MatrixCare to buy AOD Software
Electronic health records vendor MatrixCare announced Thursday morning it will buy AOD Software.
AOD has more than 800 customers in long-term care and around 1,400 in home health.
The closing is subject to obtaining regulatory approval. Terms of the deal were not disclosed.
“MatrixCare provides the top-of-the-line solutions for skilled nursing and senior living facilities while the AOD product is the best in market for CCRCs,” said MatrixCare President and CEO John Damgaard. “By integrating our collective technologies under a common care coordination platform, we will be able to offer the industry's first true full-spectrum solution for helping the emerging set of conveners and diversified LTPAC operators to deliver superior care and better outcomes.”
The company's investment partner, OMERS Private Equity, provided support, noting it was pleased to help MatrixCare “in its strategy to build the leading LTPAC technology vendor.”
“We have strong conviction regarding the potential for a leading technology player to succeed in addressing the market's needs and believe that scale is becoming increasingly important. The combination of Matrixcare and AOD creates the leading scale player across multiple care settings," said Lisa Melchior, managing director, OMERS Private Equity.
An industry player for more than three decades, MatrixCare provides cloud-based EHR services and has a presence in more than 8,500 care settings.
The AOD acquisition adds to the firm's rapidly expanding service portfolio. In October, the company completed the purchase of Mealtracker, which providers nutrition management services in more than 2,000 settings. In August, the firm unveiled an analytics dashboard that includes 33 quality measures — and compares results with the most current Centers for Medicare and Medicaid Services benchmark data. And in March, the company snapped up the assets of Right Click Software, which provides an integrated marketing, financial and operational platform in the assisted living sector. The firm also has announced several agreements with trade groups and provider organizations during the past two years.