M&A Deal Summary

Net Health Acquires Optima Healthcare Solutions

On July 2, 2019, Net Health acquired internet software and services company Optima Healthcare Solutions from Alpine Investors

Acquisition Highlights
  • This is Net Health’s 1st transaction in the Internet Software and Services sector.
  • This is Net Health’s 4th transaction in the United States.
  • This is Net Health’s 1st transaction in Florida.

M&A Deal Summary
Date 2019-07-02
Target Optima Healthcare Solutions
Sector Internet Software and Services
Buyer(s) Net Health
Sellers(s) Alpine Investors
Deal Type Add-on Acquisition
Advisor(s) Houlihan Lokey (Financial)
Wilson Sonsini Goodrich & Rosati (Legal)

Target

Optima Healthcare Solutions

Palm City, Florida, United States
Optima Healthcare Solutions provides cloud-based solutions for post-acute care providers, including contract therapy companies, skilled nursing and assisted living facilities, continuing care retirement communities, outpatient therapy clinics, and hospices. For over 25 years, Optima has led the industry with therapy management software, and today more than 11,000 sites of service rely on our full range of clinical, operational and billing solutions to increase business performance, ensure compliance and improve care for millions of patients every year.

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Buyer(S) 1

Buyer

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 4 of 7
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 4 of 7
State (Florida) 1 of 1
Country (United States) 4 of 7
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-03 ReDoc Software

Brentwood, Tennessee, United States

The Rehab Documentation Company has been the leader in therapy documentation and management software for nearly two decades. With clinical, technical and management experience in the therapy industry, ReDoc understands the unique business and clinical needs of physical therapists, occupational therapists and speech-language pathologists in hospitals and private practices. ReDoc is focused on providing solutions for therapists to efficiently document patient care to improve reimbursement, increase profitability, and enhance patient care and satisfaction. All of the company’s solutions maintain current industry standards with Microsoft and HL-7 and are interoperable with multiple office systems.

Buy -
FOLLOWING 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 -

Seller(S) 1

SELLER

Alpine Investors

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 17.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Alpine Investors is a private investment firm that principally targets small to mid-sized, software and service company acquisitions in the US, Canada, Europe, and Australia. Alpine looks for businesses with cash-flow of $1 to $50 million and will consider both control and non-control positions. Alpine prefers businesses with recurring revenues, identifiable growth opportunities, sustainable margins, and significant barriers to entry. Alpine Investors was established in 2001 and is based in San Francisco, California.

DEAL STATS #
Overall 13 of 24
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 7 of 13
State (Florida) 1 of 2
Country (United States) 13 of 24
Year (2019) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-27 Midwest Vision Partners

Chicago, Illinois, United States

Midwest Vision Partners is a people-centric organization that enable its physicians to focus on helping patients live their best lives through sight. Created for physician groups with an eye towards growth, our organization is committed to providing its high quality physicians with operational expertise, a suite of best practices, and a growth playbook to accelerate their businesses.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-18 Perennial EdTech

Roseville, California, United States

Perennial EdTech is a group of education software companies with a mission to improve K-12 school administration software ecosystems.

Sell -
Mergr

Product

Company

Legal