Enquire Solutions, Glennis Solutions and Sherpa have merged to form one large software company for long-term care operators, supported by an investment of an undisclosed amount from private equity firm Rubicon Technology Partners.
The three software companies will continue to use their existing names until a new name is selected for the combined company. Existing shareholders from each company will retain a minority interest in the combined organization.
The new company will serve more than 50 of the largest 150 long-term care operators and more than 800 customers in total, representing 5,700 communities across senior living, post-acute and home care, they said.
“The industry’s ability to provide a progressively better experience for more and more seniors without sacrificing business outcomes will hinge on the software solutions providers choose as their business engines,” Brad Frasher recently wrote in a guest column for McKnight’s Senior Living. Frasher, executive vice president of Glennis Solutions, has been appointed CEO of the combined organization.
Glennis was launched as a subsidiary of Atria Senior Living in March 2021.
“Our vision has always been for Glennis to be a truly independent business capable of serving the industry’s leading operators with a full suite of business applications,” Atria Chairman and CEO John Moore said in a statement. “Glennis has had meaningful success serving a growing number of operators. By handing the reins to Rubicon and combining with two exceptional market leaders in Enquire and Sherpa, this new platform will have a very bright future providing the best software and support to the senior living industry.”
The company said it will continue to invest in the full suite of Enquire, Glennis and Sherpa products while working to integrate their offerings into a module-based platform with capabilities that can be adapted, configured and combined to fit the needs of providers, owners or investors with operations of varying sizes across any mix of independent living, assisted living, memory care or other care settings.
Enquire Solutions co-founders Lucas and Erin Hayes said the new company is “transformative” for the parties involved and will drive the individual companies toward cohesive and effective platforms in the future.
Rubicon’s investment says something about its confidence in the senior living industry’s future and the importance of technology in the senior living space.
“We are extremely impressed by the product leadership and strong reputation that each of Enquire, Glennis and Sherpa built in their own right and are grateful to the institutional shareholders, founders and management teams of each business for their roles in enabling the creation of this best-in-class platform,” said Evan Howell, principal at Rubicon.
With this investment, Rubicon will become the majority shareholder of the combined entity. The investment also includes additional growth capital to support continued product innovation, customer support and acquisitions.