PITTSBURGH, May 14, 2020 /PRNewswire/ -- Net Health, a
premier provider of cloud-based Electronic Health Record (EHR)
software for specialized care settings, today announced that it has
acquired Tissue Analytics, a pioneering developer of automated
mobile wound and skin imaging and predictive analytics solutions.
The acquisition of Tissue Analytics expands Net Health's leadership
position within the wound care market, and for all customers, will
accelerate the delivery of next generation wound care technology
solutions, including predictive analytics. Net Health is a
portfolio company of The Carlyle Group, Level Equity, and
Silversmith Capital Partners. Silversmith invested additional
equity to support the acquisition of Tissue Analytics.
"This acquisition enhances our ability to support wound care
providers and strengthen their impact on patient outcomes," said
Net Health CEO Josh Pickus. "By
combining our solutions, we can now extend our product capabilities
and expand the settings in which we can help customers—adding
inpatient settings to the hospital outpatient market we presently
serve and growing our presence in post-acute settings and wound
care therapies product development," he said. "Together, Net Health
and Tissue Analytics will offer unmatched capabilities in wound
care, serving every setting from hospital to home."
Tissue Analytics solutions are used by hospitals, individual
clinicians and product manufacturers for delivery of wound care
services as well as management of clinical trials. Capabilities
include:
- Rich wound imaging and automated measurement technology
enabling highly consistent 2D and 3D wound measurements
- A mobile application for patient use that allows providers to
monitor chronic wounds remotely
- Deep integration with well-known hospital EHR systems,
facilitating seamless delivery of wound care in both inpatient and
outpatient settings
- Advanced machine learning algorithms and expertise critical to
the expansion of predictive analytics in wound care and other
clinical specialties
Tissue Analytics applications will be integrated with Net
Health's industry leading WoundExpert® EHR solution to
add key capabilities for use within hospital outpatient settings.
Clinicians will be able to capture and seamlessly upload wound
images and other documentation, including automated measurements,
to the WoundExpert platform.
"In Net Health, we saw the strongest possible partner to realize
our goal of a fully-connected wound care continuum," said Tissue
Analytics CEO and Co-founder Kevin
Keenahan. "This acquisition will be a quantum leap towards
consistent, automated wound outcomes available across every care
setting in the country."
All Tissue Analytics employees have joined Net Health, with
Keenahan and CTO Joshua Budman
taking on leadership roles in business development and predictive
analytics, respectively. The company's best-in-class SMART on FHIR
workflows will continue to be made available for all EHR partners
and health systems.
"We have long admired Net Health's combination of product
strength and profitable growth," said Jim
Quagliaroli, Managing Partner at Silversmith Capital
Partners. "The mission-critical nature of Net Health's SaaS
solutions is clear and the business continues to prove itself as a
critical partner to healthcare providers during this challenging
time. We are excited to double-down on this proven healthcare IT
franchise and look forward to supporting additional strategic
acquisitions."
About Net Health
Net Health provides cloud-based
software for specialty medical providers across the continuum of
healthcare – from hospital to home. Net Health's interoperable EHRs
deliver end-to-end solutions that ensure compliance, improve
outcomes, empower providers and inspire care. The company serves
over 14,000 facilities, including 98 percent of the largest
hospital chains, two-thirds of skilled nursing facilities and many
leading hospice organizations and private practices. Net Health is
a portfolio company of The Carlyle Group, Level Equity and
Silversmith Capital Partners.
About Tissue Analytics
Tissue Analytics, Inc. develops
artificial intelligence-powered software solutions that serve
clinicians, industry, payer, and research stakeholders in various
therapy areas. The platform uses best-in-class machine learning and
computer vision to optimize documentation workflows and improve the
quality of electronic medical records (EMR) data. Tissue Analytics,
Inc. deploys its wound management software via industry-leading
SMART on FHIR integrations with Epic, Cerner, Allscripts, and
others. Tissue Analytics, Inc. was incorporated in 2014 and is
based in Baltimore, Maryland, with
a satellite office in Kansas City,
Missouri.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG)
is a global investment firm with deep industry expertise that
deploys private capital across four business segments: Corporate
Private Equity, Real Assets, Global Credit and Investment
Solutions. With $217 billion of
assets under management as of March 31,
2020, Carlyle's purpose is to invest wisely and create value
on behalf of its investors, portfolio companies and the communities
in which we live and invest. The Carlyle Group employs more than
1,775 people in 32 offices across six continents. Further
information is available at www.carlyle.com. Follow The Carlyle
Group on Twitter @OneCarlyle.
About Level Equity
Level Equity is a growth equity
firm focused on providing capital to rapidly growing software and
internet companies with offices in New
York, NY and San Francisco,
CA. Level has raised over $1.7
billion since inception across a series of long term
committed investment partnerships. Principals at Level Equity
have invested in over 90 technology businesses over the past 20
years. For more information about Level Equity, visit
www.levelequity.com.
About Silversmith Capital Partners
Founded in 2015,
Silversmith Capital Partners is a Boston-based growth equity firm with
$1.1 billion of capital under
management. Silversmith's mission is to partner with and support
the best entrepreneurs in growing, profitable technology and
healthcare companies. The firm seeks to invest $20 million to $100
million per company. Representative investments include
ActiveCampaign, BHE, Centauri Health Solutions, Digital Map
Products, DistroKid, Impact, LifeStance Health, MediQuant,
Validity, and Webflow. The partners have over 75 years of
collective investing experience and have served on the boards of
numerous successful growth companies including Ability Network,
Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport
Health, SurveyMonkey, and Wrike. For more information about
Silversmith, please visit www.silversmithcapital.com.
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SOURCE Net Health