PITTSBURGH, Jan. 12, 2021 /PRNewswire/ -- Net Health, a
leading provider of cloud-based software for specialty medical
providers across the continuum of care, today announced that it has
acquired PointRight® Inc., a leading provider of analytics and
data-driven tools for the post-acute market. The acquisition adds
to Net Health's expanding investments in analytics capabilities,
which include the recent acquisition of Tissue Analytics in
April 2020 and the earlier
acquisition of Focus on Therapeutic Outcomes (FOTO).
The acquisition of PointRight expands Net Health's position and
scale in the growing post-acute market. Additionally, the
acquisition will enable Net Health's broad roster of hospital
clients to better manage their skilled nursing facility (SNF)
networks and support outcomes measurement and performance
improvement in Medicare Advantage and managed Medicaid
programs.
Today, close to 2,400 SNFs use PointRight's advanced analytics
and data-driven decision support tools to further their clinical,
financial and operational objectives. SNFs use PointRight to
improve the accuracy of their reimbursement and regulatory
submissions and to enhance overall performance in readmissions,
quality and outcomes, including:
- More accurate and compliant patient assessments
- Reduced rehospitalization rates
- Optimized care transitions
More recently, health systems, ACOs, payers and real estate
investment trusts (REIT) have relied on PointRight to provide
insight into the health of their SNF networks and to identify areas
for improvement.
"Through PointRight, Net Health will significantly expand how we
support SNFs and their health system, accountable care organization
(ACO), payer and REIT partners," said Josh
Pickus, Net Health's Chief Executive Officer. "It also
strengthens our growing analytics capabilities by providing
insights into post-acute performance, which enables providers and
payers to align around value-based care initiatives."
"With Net Health, we have found a partner with a strong
commitment to the post-acute market, and deep knowledge of the
advanced analytics capabilities that underlie PointRight's
solutions," said Steven Scott, CEO
of PointRight. "I am confident that PointRight's customers
and employees will thrive as part of the Net Health family."
Net Health will fully integrate PointRight staff to accelerate
the delivery of new analytics solutions and expand the availability
of PointRight to Net Health's customers and markets.
About Net Health
Net Health provides software and
analytics for specialty medical providers across the continuum of
care. Net Health's interoperable solutions ensure compliance,
improve outcomes, empower providers and inspire care. The company
serves over 14,000 facilities, including 98 percent of the largest
hospital chains, two-thirds of skilled nursing facilities and many
leading hospice organizations and private practices. Net Health is
a portfolio company of The Carlyle Group, Level Equity and
Silversmith Capital Partners. www.nethealth.com.
About PointRight
PointRight provides analytics that
show 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. Today PointRight delivers quantifiable value to more than
2,400 skilled nursing facilities, hospital systems, ACOs and REITs
across the US. Our deep clinical experience, combined with a 20+
year history advocating for the use of data to improve post-acute
care quality, sets us apart in a market that recognizes the need
for credible LTPAC insights. PointRight was an EDG Partners
portfolio company. To learn more, visit
http://www.pointright.com.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG)
is a global investment firm with deep industry expertise that
deploys private capital across three business segments: Global
Private Equity, Global Credit and Investment Solutions. With
$230 billion of assets under
management as of September 30, 2020,
Carlyle's purpose is to invest wisely and create value on behalf of
its investors, portfolio companies and the communities in which we
live and invest. Carlyle employs more than 1,800 people in 30
offices across six continents. Further information is available at
www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
About Level Equity
Based in New York, NY and San
Francisco, CA, Level Equity is a growth equity firm focused
on providing capital to rapidly growing software and internet
companies. The firm manages over $1.7
billion across a series of long term committed investment
partnerships. For more information about Level Equity, visit
www.levelequity.com.
About Silversmith Capital Partners
Founded in 2015,
Silversmith Capital Partners is a Boston-based growth equity firm with
$2.0 billion of capital under
management. Silversmith's mission is to partner with and support
the best entrepreneurs in growing, profitable technology and
healthcare companies. Representative investments include
ActiveCampaign, Appfire, Centauri Health Solutions, DistroKid,
Impact, LifeStance Health, MediQuant, Panalgo, Unily, Validity, and
Webflow. The partners have over 75 years of collective investing
experience and have served on the boards of numerous successful
growth companies including ABILITY Network, Archer Technologies,
Dealer.com, Liazon, Liberty Dialysis, MedHOK, Passport Health,
SurveyMonkey, and Wrike. For more information about Silversmith,
please visit www.silversmith.com.
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SOURCE Net Health Systems, Inc.