Transactions
May 25 2011
Resource Systems Acquired By Cerner
Company Description
Resource Systems is a leading provider of point-of-care electronic documentation software to the long-term care market, including skilled nursing and assisted living facilities. The Company’s flagship solution, CareTracker™, enables caregivers in long-term care facilities to electronically record resident care activities, such as activities of daily living (ADLs), a primary component of MDS 3.0 reporting which has historically been challenging to document. Resource Systems’ intuitive, easy-to-use data capture and reporting platform provides improved levels of care by increasing the accuracy of resident health assessments and identifying residents that are experiencing or are at risk of a decline in health. The Company also provides MDS Director™, an MDS optimization solution that drives enhanced revenue cycle management and quality reporting benefits for the facility. Privately held since its founding in 1980, Resource Systems has more than 3,000 client organizations throughout the nation.
Objectives
Resource Systems engaged TripleTree as its exclusive advisor based on TripleTree’s expertise working with high-growth, disruptive healthcare IT businesses as well as its strong track record with SaaS-based delivery models. As part of the process, TripleTree worked with the company’s management team to identify key strategic growth opportunities as well as develop a customized go-to-market strategy incorporating both the founder’s key transaction objectives and an optimal approach to positioning within the universe of potential acquirers.
Results
TripleTree reached out to a select group of strategic and financial buyers that could leverage Resource Systems’ unique assets to facilitate continued growth of the Company. TripleTree conducted market briefings and analysis to validate the strength and uniqueness of the CareTracker™ solution and to better position Resource Systems for an attractive exit. With a deep appreciation for the long-term care market’s demand for an electronic point-of-care solution, TripleTree’s customized presentation materials allowed prospective buyers to focus on the unique growth and market opportunities Resource Systems would bring forth.
Cerner distinguished itself as the best strategic partner for Resource Systems based on its dedication to coordinating and managing care across the post-acute continuum, including the long-term care, home health, private duty, and hospice segments. The combination of Resource Systems’ innovative technology suite and access to more than 3,000 client facilities significantly expands Cerner’s footprint in long-term care and provides a platform for enhancing care quality across the entire post-acute care continuum. From a joint sales standpoint, Resource Systems and Cerner will bring an integrated, enterprise-wide solution with significant up-sell opportunities to a large U.S. market of more than 50,000 long-term care facilities. Additionally, the acquisition provides Cerner with proprietary point-of-care capabilities that can be leveraged within the adjacent hospital and home health domains.
The Resource Systems’ acquisition solidifies Cerner’s commitment to the post-acute marketplace by enabling long-term care providers to deliver improved levels of resident care in conjunction with greater compliance and reimbursement efficiencies.
LEAD INVESTMENT BANKERS
Seth Kneller
Company Description
Resource Systems is a leading provider of point-of-care electronic documentation software to the long-term care market, including skilled nursing and assisted living facilities. The Company’s flagship solution, CareTracker™, enables caregivers in long-term care facilities to electronically record resident care activities, such as activities of daily living (ADLs), a primary component of MDS 3.0 reporting which has historically been challenging to document. Resource Systems’ intuitive, easy-to-use data capture and reporting platform provides improved levels of care by increasing the accuracy of resident health assessments and identifying residents that are experiencing or are at risk of a decline in health. The Company also provides MDS Director™, an MDS optimization solution that drives enhanced revenue cycle management and quality reporting benefits for the facility. Privately held since its founding in 1980, Resource Systems has more than 3,000 client organizations throughout the nation.
Objectives
Resource Systems engaged TripleTree as its exclusive advisor based on TripleTree’s expertise working with high-growth, disruptive healthcare IT businesses as well as its strong track record with SaaS-based delivery models. As part of the process, TripleTree worked with the company’s management team to identify key strategic growth opportunities as well as develop a customized go-to-market strategy incorporating both the founder’s key transaction objectives and an optimal approach to positioning within the universe of potential acquirers.
Results
TripleTree reached out to a select group of strategic and financial buyers that could leverage Resource Systems’ unique assets to facilitate continued growth of the Company. TripleTree conducted market briefings and analysis to validate the strength and uniqueness of the CareTracker™ solution and to better position Resource Systems for an attractive exit. With a deep appreciation for the long-term care market’s demand for an electronic point-of-care solution, TripleTree’s customized presentation materials allowed prospective buyers to focus on the unique growth and market opportunities Resource Systems would bring forth.
Cerner distinguished itself as the best strategic partner for Resource Systems based on its dedication to coordinating and managing care across the post-acute continuum, including the long-term care, home health, private duty, and hospice segments. The combination of Resource Systems’ innovative technology suite and access to more than 3,000 client facilities significantly expands Cerner’s footprint in long-term care and provides a platform for enhancing care quality across the entire post-acute care continuum. From a joint sales standpoint, Resource Systems and Cerner will bring an integrated, enterprise-wide solution with significant up-sell opportunities to a large U.S. market of more than 50,000 long-term care facilities. Additionally, the acquisition provides Cerner with proprietary point-of-care capabilities that can be leveraged within the adjacent hospital and home health domains.
The Resource Systems’ acquisition solidifies Cerner’s commitment to the post-acute marketplace by enabling long-term care providers to deliver improved levels of resident care in conjunction with greater compliance and reimbursement efficiencies.
LEAD INVESTMENT BANKERS
Seth Kneller
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