Net Health Systems Announces Acquisition of Wound Care Strategies and TPS™ EMR Software
Expansion Supports Net Health's Rapid Growth
PITTSBURGH, Sept. 4, 2012 /PRNewswire/ -- Net Health Systems, the leading provider of clinical information systems for the rapidly growing field of wound care, announced today the acquisition of Wound Care Strategies, Inc. developers of the TPS™ Electronic Medical Record software for wound care providers. This acquisition is an early realization of the intention to leverage the company's recent investment by Spectrum Equity as a means to build on Net Health's market leadership. The combined companies support the clinical information systems of more than 50% of the wound clinics in the United States.
Wound Care Strategies Founder and President, Cathy Thomas Hess, BSN, RN, CWOCN, will join Net Health Systems as Vice President and Chief Clinical Officer, bringing more than 25 years of experience in wound care to the Net Health management team. Net Health CEO Anthony Sanzo commented, "Cathy's experience in various acute-care, long-term care, and outpatient wound clinics is impressive and positions Net Health to offer our clients an expanded base of knowledge. We're excited to have this industry veteran on our team as we continue to grow." Cathy Thomas Hess added, "Our companies combine to create the best possible solution in the industry. I've always had a great deal of respect for their team, product offering, and the positive impact they have made in the industry. I am delighted to join the team, and I know that TPS™ EHR customers will be well-pleased with this opportunity."
Financial terms of the transaction were not disclosed. Net Health was advised by Choate Hall & Stewart LLP. WCS and selling shareholders were advised by Smigel, Anderson & Sacks, LLP.
About Net Health Systems
Net Health's WoundExpert platform is a certified Electronic Health Record ("EHR") system utilized by over 20,000 physicians across over 1,000 facilities throughout the United States. Outpatient wound clinics, long-term care and home health facilities, traveling physicians and other healthcare providers use Net Heath's fully integrated SaaS platform to record clinical procedures and document financial results in order to improve patient care and outcomes, as well as to comply with regulatory requirements. WoundExpert specifically allows providers to assess wounds and document care planning; schedule, receive and track insurance authorization; record and track coding and billing; benchmark facility performance, and provide telemedicine services. In addition, Net Health's database of over 6 million patient encounters represents the largest independent source of chronic wound benchmarking data in the industry.
Founded in 1995, Wound Care Strategies' services and solutions improve clinical care, patient outcomes, and process efficiency. WCS helps clients optimize care models and business models across the continuum of care settings. WCS Meaningful Use certified TPS™ EMR software, DAaaS (data analytics), business intelligence tools, and strategic clinical consulting are each built on a platform with deep clinical wound care expertise. This intuitive command of ever-evolving industry best practices, combined with clinical guidance technologies, assists clients to thrive clinically and financially.
SOURCE Net Health Systems
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