Consolo Services Group, which is backed by Bluff Point Associates, has acquired ADS Data Systems, an SaaS provider of adult day care software and services. No financial terms were disclosed.
LEXINGTON, KY. (PRWEB) JULY 02, 2018
Consolo Services Group, a leading provider of fully-integrated, SaaS-based health IT solutions for the hospice and palliative care industry, announced today that it has completed an acquisition of ADS Data Systems, a leading SaaS provider of adult day care software and services.
Since launching the company in March 2004, Consolo has become a leading player in the EHR and Revenue Cycle Management segment of the hospice and palliative care markets. Consolo’s integrated clinical (EHR) and financial (RCM) offering has been immediately embraced by hospices and palliative care providers looking for an affordable, cloud-based solution that is easy to use and resides on a single database.
“We’re thrilled that Consolo believes in our growth potential as much as we do,” said Beth Scovill, CEO of ADS Data Systems. “We see tremendous interest and excitement among adult day care agencies for our innovative and fresh SaaS solution in the cloud. The partnership with Consolo will allow us to capitalize on the market opportunity and keep us on track with our product development strategy. Additionally, we will fill product development and support roles that will bolster our leading share of the market.”
ADS will continue to operate out of the existing office in Stevenson, MD, and the full management team and staff will remain with the business in their current roles.
“We are very excited to partner with Beth and the ADS team,” said Greg Kite, CEO at Consolo. This acquisition will enhance ADS’s existing growth opportunities, but at the same time utilize their SaaS platform to extend into other post-acute care markets. We believe Consolo has an exceptional opportunity to disrupt the post-acute care space even further with this acquisition,” he said.
This acquisition comes on the heels of a large strategic investment in Consolo from Bluff Point Associates, a private equity firm focused on growth-stage investing in the healthcare and financial services IT space.
About Consolo Services Group:
Based in Lexington, KY, Consolo Services Group is a dynamic healthcare information
technology company. The Consolo product has been in the market for over 15 years and was developed specifically for hospice and palliative care providers. From the start, Consolo has always leveraged its single-instance multi-tenant database cloud solution which has accelerated development efforts and allowed for cutting-edge clinical tools and industry-standardized data. Hospice and palliative care agencies can expect to improve their performance and bottom line with the Consolo platform. For more information, visit consoloservices.com or call 877.846.5831.
About ADS Data Systems:
ADS Data Systems provides affordable software solutions for community-based health service agencies (adult day care) enabling them to standardize and automate day-to-day tasks to increase efficiencies, ensure compliance and enhance profitability. ADS is headquartered in Stevenson, MD. For more information, visit adsdatasystems.com or call 866.611.8859.
About Bluff Point Associates:
Bluff Point Associates is a private equity firm based in Westport, Connecticut. Bluff Point actively invests in the healthcare information services sector as well as information services companies supporting the banking, trust, securities, retirement and wealth management sectors of the financial services industry. Bluff Point’s team collectively has decades of experience in recognizing a company’s growth potential and working with its management to reach that potential. For more information regarding Bluff Point, visit bluffpt.com.