With Acquisition, WellSky Expands Footprint in Home Medical Space
Expanding its footprint in the home medical care space, software company WellSky has acquired Bonafide, an enterprise resource planning (ERP) software solution for durable medical equipment (DME) and home medical equipment (HME) companies.
WellSky has more than 20,000 clients, including hospitals, blood banks, home health and hospice and other post-acute providers, government agencies and human services organizations.
The company notes that DME/HME is a rapidly growing segment in healthcare, driven by the increasing demand for patient-centered care in the home.
Thousand Oaks, Calif.-based Bonafide’s enterprise workflow management platform combines billing, revenue cycle management, resupply, supply chain, inventory management, and mobile delivery. The company serves 200 clients, including some of the largest and fastest-growing DME/HME providers.
Mark Ludwig, CEO of Bonafide, will continue to lead the Bonafide organization.
Overland Park, Kans.-based WellSky said its offerings in home infusion and home health complement Bonafide’s solutions. WellSky and Bonafide will further invest in services, analytics, and interoperability.
WellSky brings a network of more than 2,000 hospitals and 130,000 providers to Bonafide clients, providing access to the nation’s largest referral network and increased visibility to patients across care settings. In the last 12 months, over 1 million referrals were sent to HME/DME providers using WellSky’s hospital discharge solutions.
The companies said the combination of WellSky and Bonafide will enable more DME/HME companies to improve operations, streamline ordering and administrative processes, and maximize success in the face of industry challenges and regulatory changes.
“With the rise in chronic conditions, a rapidly aging population, and an increased focus on patient-directed care, the need for high-quality home-based healthcare solutions is more critical than ever,” said WellSky chairman and CEO Bill Miller, in a statement. “I’m thrilled to welcome Bonafide to WellSky. Together we will work to support this expanding market with the full suite of WellSky solutions and our tech-enabled services to better collaborate and achieve successful outcomes for even the most complex patient populations.”
Terms of the acquisition were not disclosed.
