Mediware Acquires Wellington Financial Fund IV portfolio co. Harmony Information Systems
It’s a happy/sad reality of our business that firms are acquired from time to time. As much as these regular events speak to one’s prowess at picking portfolio companies that matter to their respective marketplaces, we are invariably left with the challenge of finding another story to replace it with. Fortunately, there are no shortage of good companies to look at.
Here is the news on our latest M&A event. Harmony counts JMI Equity and Updata Partners as its VCs. We provided Harmony with US$4 million of growth capital in 2011:
Mediware Acquires Harmony Information Systems — Expands Mediware’s Footprint in the Long-Term Care Market
LENEXA, Kan., Jun 11, 2014 (GLOBE NEWSWIRE via COMTEX) —
Mediware Information Systems, Inc. announced today that it has acquired Harmony Information Systems, Inc., a long-term care software solutions company. Harmony’s software solutions help federal, state and local agencies serve consumers with home- and community-based approaches to long-term care. Harmony solutions are used by more than 25,000 users at state and local agencies to manage complex health and human services processes across the integrated continuum of care.
Mediware pursued the acquisition of Harmony to expand its footprint in the post-acute care market and is looking forward to helping more organizations determine the most appropriate level of care. “The acquisition enables Mediware to broaden its subject matter expertise in long-term care and enhance Mediware’s ability to expand the continuum of care outside the hospital,” said Thomas Mann, Mediware’s president and chief executive officer. “Not only will Mediware be positioned to have a positive impact on these settings, but these markets are expected to grow over the next decade,” continued Mann.
“The state and local agencies that currently use Harmony products will feel right at home with Mediware. They should also feel more confident and excited about our ability to support and meet their needs,” stated Mann. Joe Sander, Harmony’s president and chief executive officer, says Harmony’s clients will benefit from working with Mediware. “We feel like Mediware’s experience, financial strength and commitment to its customers is a perfect fit for our customers.”
Harmony focuses on helping its customers manage the complex and changing policies related to long-term care. The company has developed specialized workflows and features in its software to solve the unique demands faced by its customers. Managing complex Medicaid waiver programs, complying with mandates under the Older Americans Act and reducing readmissions through care transitions are a few examples of the challenges addressed within Harmony’s software solutions. With the aging population, these programs and policies will only become more relevant and the need for specialized niche solutions will continue to grow. Mediware is excited to be on the forefront, ready to help its newly acquired customers.
Congrats to everyone involved.