Health management solution Net Health has been acquired by The Carlyle Group and Level Equity.
The company provides cloud-based clinical documentation, practice management, and billing solutions for healthcare providers in employee health, occupational medicine, rehab therapy, urgent care, and wound care practises. Net Health’s billing services enable clients to support back-office processes to ensure documentation and reimbursement is managed along with revenue.
Carlyle managing director Mike Gozycki said, “Net Health’s best-in-class SaaS solutions increase revenue, reduce costs, and improve clinical outcomes for healthcare providers and their patients.
“With Carlyle and Level’s collective resources and capital, we are eager to support management’s plans to continue investing heavily in their best-of-breed software solutions, their highly scalable xfit® platform, customer support, and to generally support the company’s vision of making their customers successful.”
Carlyle used its $2.4bn U.S. Equity Opportunity Fund II to make the investment. The vehicle closed in 2015, with a focus on middle-market and growth companies in the US and Canada.
Last week, Carlyle made an undisclosed investment in to claims and noticing administrator Prime Clerk. The company uses it solutions to help the bankruptcy and administration services, by offering real-time graphics and analytics. This investment was made from the firm’s Strategic Partners IV vehicle, which has a $2.5bn capital pool.
There have been a range of investment into the healthcare sector this month, with patient payment solutions Cedar and HealthiPASS both closing series A funding rounds. Prescription savings company Rx Savings Solutions also raised capital recently, with McCarthy Capital leading an $18.4m round.
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