Acquisition will combine decades of healthcare technology expertise with decades of hospice business expertise
Schaumburg, IL and Clearwater, FL (July 7th, 2016) Procura Healthcare Software today announced that it has entered into a definitive agreement to acquire Suncoast Solutions, the hospice technology arm of Empath Health. This transaction joins two of the strongest performing companies in the healthcare industry and deepens Procura’s commitment to the industry’s hospice segment, which has rapidly grown to over $20 billion annually.
Procura provides enterprise software to home health agencies, community care agencies, and hospice and residential care agencies in the U.S., Canada, and Australia. Their products enhance back office efficiency, scheduling, and the coordination of clinical care delivery. Empath Health is a nonprofit integrated network of care. Their technology arm, Suncoast Solutions, provides software to help providers manage hospice processes and related programs.
Procura’s acquisition reflects the exploding growth of hospice care and the consolidation of healthcare delivery as providers seek to balance costs and profits by expanding into multiple healthcare lines of business. Growth in the hospice industry has also been driven by shifts in patient preferences towards non-acute care, hospice’s cost-saving value proposition, and the aging of the global population, including the U.S. where more than where 10,000 people turn age 65 every day.
Acquisition benefits customers of both companies
The acquisition of Suncoast Solutions strengthens Procura’s existing presence in the hospice segment of the healthcare industry and enables Procura to better serve both large and small hospice providers. Procura customers gain broader capabilities and best practices guidance for hospice care, and Suncoast customers gain access to Procura’s investment in technology innovation. The acquisition also supports Procura’s vision of an integrated platform for the entire continuum of care.
Under the terms of the agreement, Procura will purchase the technology and customer assets of Suncoast Solutions. As part of the Procura team, the Suncoast team will continue to provide excellent service to Suncoast customers. The transaction is subject to normal closing conditions.
“Today’s announcement will have a significant impact on home healthcare delivery, whose providers are increasingly adding hospice services to their offerings,” said Chris Junker, chief executive officer of Procura. “The acquisition combines Suncoast’s hospice knowledge with Procura’s expertise in deploying large, global, and complex software solutions to the healthcare community. This means we will be able to offer providers a stronger, fully integrated solution across all their lines of business. The acquisition will also accelerate the development of our next-generation platform that will power hospice and homecare delivery for years to come.”
Procura and Empath to form hospice advisory board
Procura will work with Empath to create a hospice and homecare advisory board. As a member of that board, Empath will lend their expert knowledge to Procura’s continuing development of solutions for the hospice segment. In addition, Empath will monitor evolving homecare and hospice-related regulations at the local and federal level and evaluate their impact on product development.
“We are committed to providing compassionate, life-changing care to all those we serve,” said Rafael Scuillo, CEO of Empath Health. “At this point we believe the next best step we can take for our hospice and homecare patients across the country is to partner with Procura to ensure that we continue to provide the best software solutions in the industry. Procura will be pivotal to taking healthcare software to the next level and ultimately make care at the bedside the best it can be.”
About Procura Healthcare Software
Procura is a provider of enterprise software to home health agencies, community care agencies, and hospice and residential care agencies in the U.S., Canada, and Australia. Our products enhance back office efficiency, scheduling, and the coordination of clinical care delivery. By shouldering the administrative burden of healthcare delivery, Procura provides organizations with operational and compliance peace of mind, which enables them to focus on administering the best possible care to their clients. Procura products are used daily at more than 4,200 customer sites that are managing care for over 3 million patients. More than 45,000 office staff and 500,000 caregivers rely on Procura products every day to support more than 45,000 residential beds. Procura’s suite of products provide the greatest breadth of support for multi-payer providers of any scale, including U.S. Medicare, U.S. Medicaid, commercial insurance systems, private payment, and nationalized health systems globally.
About Suncoast Solutions
Suncoast Solutions is a software development company dedicated to improving the quality of care for hospice patients and families through state-of-the-art technology since 1999. Suncoast Solutions focuses its services exclusively on hospice, palliative care and home health providers.
About Empath Health
Empath Health is a nonprofit integrated network of care that provides expert, life-changing health care to those with chronic and advanced illnesses. Empath Health includes hospice, home health and physician services, independent living assistance and day care for seniors, HIV services and advance care planning.
For additional information, contact Stewart Campbell, VP Global Marketing at Procura firstname.lastname@example.org or 847-429-3249.