Investment Summary

Accel-KKR and EDG Partners Exits PointRight

On January 12, 2021, Net Health invested in medical products company PointRight from Accel-KKR and EDG Partners

Investment Highlights
  • This is Net Health’s 1st transaction in the Medical Products sector.
  • This is Net Health’s 6th transaction in the United States.
  • This is Net Health’s 1st transaction in Massachusetts.

Investment Summary

Date 2021-01-12
Target PointRight
Sector Medical Products
Investor(s) Net Health
Sellers(s) Accel-KKR
EDG Partners
Deal Type Add-on Acquisition

Target

PointRight

Cambridge, Massachusetts, United States
PointRight, Inc. provides cloud-based analytics that shows a 360⁰ view of long-term and post-acute (LTPAC) facility performance and clinical outcomes. Equipped with these insights, LTPAC Provider and Payers can lower rehospitalization rates, improve clinical outcomes, and build and manage high-performing networks. PointRight was founded in 1995 and is based in Cambridge, Massachusetts.

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Investor(S) 1

Investor

Net Health

Pittsburgh, Pennsylvania, United States

Category Company
Founded 1993
Sector Software
DESCRIPTION

Net Health is a provider of software solutions for specialized outpatient care. Net Health offers EHR solutions serve five medical specialty markets and offer clients an end-to-end solution that includes practice management tools, clinical workflow documentation, revenue cycle management, expert coaching, and analytics. Net Health was founded in 1993 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 6 of 9
Sector: Medical Products M&A 1 of 1
Type: Add-on Acquisition M&A Deals 6 of 9
State: Massachusetts M&A 1 of 1
Country: United States M&A 6 of 9
Year: 2021 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-14 Tissue Analytics

Baltimore, Maryland, United States

Tissue Analytics, Inc. develops artificial intelligence-powered software solutions that serve clinicians, industry, payer, and research stakeholders in various wound care arenas. The platform uses best-in-class machine learning and computer vision to optimize documentation workflows and improve the quality of electronic health records (EHR) data. Tissue Analytics, Inc. deploys its wound management software via industry-leading SMART on FHIR integrations with Epic, Cerner, Allscripts, and others. Tissue Analytics, Inc. was incorporated in 2014 and is based in Baltimore, Maryland, with a satellite office in Kansas City, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-29 Casamba

Agoura Hills, California, United States

Casamba is a supplier of enterprise software systems to large providers of therapy. Through its cloud-based platform, the Company provides comprehensive clinical therapy documentation, scheduling and billing automation solutions for contract therapy and other healthcare organizations. Casamba offers an integrated solution that expands its clients’ back-end office functionality, interfacing with other commercial healthcare and financial information systems. Casamba serves more than 8,000 skilled nursing, acute, outpatient and home health locations in the country, partnering with leading healthcare providers to serve patients on a national scale. Casamba was founded in 2004 and is based in Agoura Hills, California.

Buy -

Seller(S) 2

SELLER

Accel-KKR

Menlo Park, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Accel-KKR is a private equity firm that seeks control and growth-oriented investments in middle-market technology companies. The Firm targets investments in public and private companies with revenues ranging from $15 to $150 million. Accel-KKR pursues transactions across multiple segments of the technology industry, including software, hardware and internet technologies, and IT enabled services. Accel-KKR's first fund was created in 2000 by Accel Partners and Kohlberg Kravis Roberts & Co. to invest in technology assets and businesses that were outside of each firm's core focus. Accel-KKR is based in Menlo Park, California.


DEAL STATS #
Overall 32 of 56
Sector: Medical Products M&A 1 of 1
Type: Add-on Acquisition M&A Deals 18 of 29
State: Massachusetts M&A 4 of 4
Country: United States M&A 27 of 46
Year: 2021 M&A 1 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-09 Symfonia

Warsaw, Poland

Symfonia is a provider of cloud business management solutions for SMEs. Symfonia offers four best-in-class products (Symfonia 50Cloud, Symfonia ERP, Symfonia Kadry i Płace One Payroll, and Symfonia Start) to a diversified base of loyal clients. Symfonia recently transitioned from a licensing model to a subscription model, achieving robust top-line growth and enhanced profitability. Symfonia was founded in 1995 and is based in Warsaw, Poland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-14 Endalia

Zaragoza, Spain

Endalia specializes in human capital management (“HCM”) and payroll solutions capable of managing over 15 different HR functions and accurately calculating payroll in Spain. The Company is unique in being one of the only fully-integrated cloud offerings in the Spanish market that provides both a SaaS software product for internal HR management as well as specialty software-enabled services (“SES”) for customers that are looking for a professional, outsourced HR experience. Endalia was founded in 2007 and is based in Zaragoza, Spain.

Buy -
SELLER

EDG Partners

Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 260M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

EDG Partners is a specialist private investment firm focused on investments in healthcare companies. EDG looks for growth-oriented opportunities located within the US. EDG will not invest in biotech or businesses with FDA development risk.


DEAL STATS #
Overall 13 of 13
Sector: Medical Products M&A 4 of 4
Type: Add-on Acquisition M&A Deals 6 of 6
State: Massachusetts M&A 1 of 1
Country: United States M&A 13 of 13
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-17 PWNHealth

New York, New York, United States

PWNHealth is a provider of lab connectivity, compliance, and patient outreach solutions for health and wellness, telemedicine, diagnostic labs, and payer markets. PWN services all 50 states and Puerto Rico with telehealth and telegenetic services. PWN model enables safe and easy access to diagnostic testing, ensuring clinical validity, utility, quality consumer education, access to clinicians, and the ability to implement national programs seamlessly. PWNHealth is based in New York City.

Sell -