Private equity firm Riverside Co. acquired CareFacts Information Systems.
St. Paul, Minn.-based CareFacts makes software that helps homecare, hospice, and public healthcare organizations manage back office and regulatory information. Riverside said CareFacts will bolster its HEALTHCAREfirst business, which provides similar software services through the Internet. The terms of the deal were not disclosed.
“CareFacts enjoys stellar brand recognition in the Midwest, and will be a highly synergistic addition to the HEALTHCAREfirst family,” Riverside managing partner Loren Schlachet said in prepared remarks.
“This is a great opportunity to expand product offerings for customers while making HEALTHCAREfirst bigger and even more effective,” he said.
Riverside, which manages over $3 billion in capital, said CareFacts marks its 22nd acquisition last year.