MatrixCare acquires EHR vendor SigmaCare
MatrixCare has announced that it has acquired SigmaCare, a leading EHR vendor for the long-term, post-acute care market, based in Manhattan. MatrixCare is the number one ranked and largest provider of EHR and related solutions to the U.S. senior care market, serving over 12,000 facility-based care settings and over 2,000 home care agency offices throughout the U.S.
“We’re very excited about this move for a couple of reasons,” said John Damgaard, President & CEO of MatrixCare. “Strategic acquisitions are a key component of our growth strategy. Our strong financial position and rock-solid operating performance allow us to actively seek out successful products and customer bases that are synergistic or complementary to our offerings and footprint within LTPAC,” he added. “Serving facility-based operators and home health, home care and hospice operators nationwide, SigmaCare is the dominant player in the Greater New York area, which is a strategic focus for us. Their deep understanding of issues affecting local operators, such as DSRIP and multiple regional HIEs, will further strengthen our spectrum-wide solutions for managing the health and wellness of U.S. seniors and will help us better support New York area providers as we navigate the transition to a fee-for-value healthcare system together. We’re confident this acquisition will benefit customers of both organizations, as we leverage each other’s strengths to create even more robust product offerings.”
MatrixCare’s innovation-driven strategy and CareCommunity care coordination and population health management platform are based on a commitment to interoperability that allows the company to seamlessly integrate care-setting specific data from MatrixCare and non-MatrixCare sources, including over 500 telehealth devices, into one e-longitudinal personal health record for managing the health and wellness of U.S. seniors.
SigmaCare customers will immediately be able to take advantage of MatrixCare’s full solution set including CareCommunity, Revenue Cycle Management, and MatrixCare Analytics to help their organizations deliver superior care, maximize reimbursements, reduce readmissions, maintain high occupancy, facilitate interoperability across the spectrum of care, and support executive decision making. At the same time, MatrixCare is committed to minimizing disruption to current SigmaCare customers and will maintain and support key existing SigmaCare products for a period of five years.
“As someone who knows the SigmaCare business very well, I believe its customers should be as excited about this move as we are,” said Stephen Pacicco, SVP of Corporate Development at MatrixCare and former CEO of SigmaCare. “When I left SigmaCare, it was a difficult decision because I believed passionately in the importance of its mission and the commitment of its employees,” Pacicco added. “MatrixCare has the right resources, leadership and vision for the care of America’s seniors and I’m excited that, as part of MatrixCare, the SigmaCare customers and employees are now on the right team for the future.”