Welsh, Carson, Anderson & Stowe, New Tork-based private equity firm focused on information/business services and healthcare, has completed its acquisition of GetWellNetwork, provider of Interactive Patient Caresolutions.
The GetWellNetwork, deployed at over 30,000 hospital beds across the U.S, and facilitates over seven million patient interactions per year.
“GetWellNetwork is the most innovative and rapidly growing company delivering patient engagement solutions to healthcare providers,” says Michael Donovan, general partner of WCAS. “Patient engagement and satisfaction have emerged as a business imperative and critical area of focus for the healthcare industry, and as a result, we are excited about the future opportunities that lie ahead for GetWellNetwork.”
GetWellNetwork’s solutions help healthcare providers engage, educate and empower patients along the care continuum. The Company’s patient-centered platform, delivered across multiple technology platforms including mobile devices, computers and televisions, enables providers to implement a revolutionary care delivery model called Interactive Patient Care, to improve performance and patient outcomes.
The Company further extends the value of existing IT investments by integrating seamlessly with electronic medical record and patient portal applications.
Michael O’Neil, founder and CEO of GetWellNetwork, says, “WCAS has the unique combination of investment experience, industry focus and capital resources that will add significant value to expanding and differentiating our solution and delivering services and support to our clients.”
Founded in 2000, GetWellNetwork has led the development of the Interactive Patient Care market, which is estimated at over $1 billion and growing significantly. For a third consecutive year, GetWellNetwork was recognized by KLAS as the leader in the Interactive Patient Systems category and is also exclusively endorsed by the American Hospital Association. The Company has more than 190 employees across the U.S.
Welsh, Carson, Anderson & Stowe focuses its investment activity in two target industries, information/business services and healthcare. Since its founding in 1979, WCAS has organized 15 limited partnerships with total capital of $20 billion.