Harris Williams & Co. Advises Homecare Homebase, LLC on its Pending Sale to Hearst Corporation
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces that Homecare Homebase, LLC (Homecare Homebase), a leading provider of hosted software solutions to the homecare and hospice end markets, has entered into a definitive agreement to be acquired by Hearst Corporation (Hearst). The closing of the transaction is subject to regulatory approval and customary closing conditions. Harris Williams & Co. is acting as the exclusive financial advisor to Homecare Homebase, a portfolio company of Cressey & Company LP and SV Life Sciences Advisers LLP. The transaction is expected to close in the fourth quarter of 2013 and is being led by Jeff Bistrong, Sam Hendler, Tyler Dewing, and Kojo Appenteng from Harris Williams & Co.’s Technology, Media & Telecom (TMT) Group along with Turner Bredrup and James Clark from the firm’s Healthcare & Life Sciences (HCLS) Group.
“The SaaS platform offered by Homecare Homebase embodies best-in-class workflow rules for the post-acute sector and will undoubtedly be another core building block as Hearst continues to build a robust, integrated toolset and data analytics capability in healthcare,” said Jeff Bistrong, a managing director at Harris Williams & Co.
“With continued reimbursement pressure and an increased compliance burden within the home healthcare and hospice industries, Homecare Homebase’s unique workflow driven offerings are needed more than ever given the improved efficiency and enhanced compliance they create for providers,” said James Clark, a managing director at Harris Williams & Co.
“Homecare Homebase delivers a unique, integrated workflow software solution that combines clinical and administrative best practices in the post-acute care market,” said Sam Hendler, a director in Harris Williams & Co.’s TMT Group and leader of the firm’s Healthcare IT (HCIT) practice. “Expertise in the post-acute segment is viewed as a key capability for solution providers and care delivery organizations as they navigate the transformation of the healthcare ecosystem and the expansion of Accountable Care Organizations.”
“We are particularly proud to have worked again with April Anthony, as well as the management team at Homecare Homebase and their financial sponsors, Cressey & Company and SV Life Sciences, to deliver a successful outcome,” added Turner Bredrup, a managing director at Harris Williams & Co. “Repeat clients are the cornerstone relationships of our firm and are the base upon which we have built our franchise over the years.”
Homecare Homebase, based in Dallas, TX, is a leading healthcare software company serving the technology needs of the fast growing post-acute care industry including homecare, hospice and private duty. The company offers a comprehensive integrated cloud-based software solution to improve the clinical, operational and financial success of homecare and hospice agencies. Homecare Homebase enables real-time, wireless information exchange and communication between office staff, field staff and physicians; automates workflow processes; enables accurate billing through numerous integrated checks and balances; and provides powerful management reporting via a back-office data analysis tool that ties together all agency operational information.
Hearst is one of the nation's largest diversified media and information companies. Its major interests include ownership of 15 daily and 36 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union; hundreds of magazines around the world, including Good Housekeeping, Cosmopolitan, ELLE and O, The Oprah Magazine; 29 television stations, which reach a combined 18 percent of United States viewers; ownership in leading cable networks, including Lifetime, A&E, HISTORY and ESPN; significant holdings in the automotive, electronic and medical/pharmaceutical industries; a 50 percent stake in the global ratings agency Fitch Group; Internet and marketing services businesses; television production; newspaper features distribution; and real estate.
The firm’s TMT Group focuses on software, internet and digital media, and infrastructure solutions. Within these segments, the TMT Group focuses on targeted sectors including HCIT. For more information on the TMT Group and other recent transactions, visit the TMT Group website.
The firm’s HCLS Group has experience across a broad range of sectors, including alternate site care; managed care and cost containment services; medical devices, products and distribution; outsourced clinical and practice management services; and outsourced pharma services. For more information on the HCLS Group and other recent transactions, visit the HCLS Group website.