Add-on Acquisition • Business Services

WellSky Acquires Corridor

On October 12, 2023, WellSky acquired business services company Corridor from HealthEdge Investment Partners

Acquisition Context
  • This is WellSky’s 1st transaction in the Business Services sector.
  • This is WellSky’s 26th transaction in the United States.
  • This is WellSky’s 1st transaction in Kansas.

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M&A Deal Summary

Date October 12, 2023
Target Corridor
Sector Business Services
Buyer(s) WellSky
Sellers(s) HealthEdge Investment Partners
Deal Type Add-on Acquisition
Advisor(s) Lincoln International (Financial)

Target Company

Corridor

Overland Park, Kansas, United States
Corridor provides consulting, compliance services, executive search, and education tools to the home care and hospice industries. Corridor was founded in 1989 and is based in Overland Park, Kansas.
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Buyer Overview 1

Buyer

WellSky

Overland Park, Kansas, United States

Category Company
Founded 1980
Sector Internet Software and Services
DESCRIPTION

WellSky is a supplier of software as a service (SaaS) and other software platforms for healthcare and human services providers and payers across acute, non-acute, and community-based sites of care. WellSky was founded in 1980 and is based in Overland Park, Kansas.


Deal Context for Buyer #
Overall 27 of 28
Sector: Business Services 1 of 1
Type: Add-on Acquisition 25 of 26
State: Kansas 1 of 1
Country: United States 26 of 27
Year: 2023 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-23 Experience Care

Austin, Texas, United States

Experience Care is a provider of software solutions to post-acute and long-term care providers. The company provides an innovative customer experience through our modernized software, collaborative customer support, and customer-focused approach. Its solutions allow long-term care facilities to strengthen community partnerships and confidently manage care transitions with a single integrated electronic health record and financial solution. Experience Care was formed in 1969 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-25 Bonafide

Thousand Oaks, California, United States

Bonafide is a cloud-based healthcare information technology company. Bonafide provides enterprise resource planning platforms that provide comprehensive management solutions in acute and post-acute care settings. Bonafide was founded in 1981 and is based in Thousand Oaks, California.

Buy -

Seller Profile 1

SELLER

HealthEdge Investment Partners

Tampa, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
Size Small
Type Sector Focused
DESCRIPTION

HealthEdge Investment Partners is an operating-oriented private equity firm that targets the healthcare industry. The firm pursues buyouts, recapitalizations or structured investments in healthcare companies with a strong market share. HealthEdge targets businesses with enterprise value ranging between $10 million and $100 million, and with revenues ranging between $5 million and $75 million. Moreover, the firm looks for companies with EBITDA near $15 million. The firm typically commits between $5 million to $20 million of capital per company. HealthEdge focuses on the healthcare segments that involve medical products, devices and equipment, healthcare services, healthcare IT, pharmaceutical, and distribution. HealthEdge Investment Partners was founded in 2005 and is based in Tampa, Florida.


Deal Context for Seller #
Overall 17 of 18
Sector: Business Services 3 of 3
Type: Add-on Acquisition 11 of 12
State: Kansas 1 of 1
Country: United States 17 of 18
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-31 Veridian Healthcare

Gurnee, Illinois, United States

Veridian Healthcare is a distributor of in-home diagnostics and pain relief products to wholesale and retail customers in the healthcare market. The company provides products intended to meet the needs and standards of healthcare professionals. Veridian Healthcare was founded in 2009 and is based in Gurnee, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-04 P3 Oral Surgery

Charleston, West Virginia, United States

P3 Oral Surgery is an oral surgery service organization that provides business services such as revenue cycle management, purchasing, accounting & finance, marketing, human resources, and IT support. P3 Oral Surgery is based in Charleston, West Virginia.

Buy -