US-based healthcare technology company WellSky has acquired Bonafide, a provider of enterprise software solutions for durable medical equipment (DME) and home medical equipment (HME) firms.
Bonafide has built a fully integrated enterprise workflow management platform that serves around 200 clients, including some fast-growing DME/HME providers.
The platform fully integrates purchasing, inventory management, order processing, document management, patient communication, and analytics within a unified intuitive user interface.
WellSky provides software, analytics, and services that help healthcare and community care providers to deliver patient-centred, data-driven, and coordinated care.
Its offerings in home infusion and home health are highly complementary to Bonafide’s solutions, industry experience, and knowledge.
With the addition of Bonafide, WellSky expands its footprint in DME/HME and will serve more providers with an integrated software platform that improves their businesses.
The combination is expected to help more DME/HME companies improve operations, simplify ordering and administration, and enhance success amid changes.
WellSky chairman and CEO Bill Miller said: “With the rise in chronic conditions, a rapidly ageing population, and an increased focus on patient-directed care, the need for high-quality home-based healthcare solutions is more critical than ever.
“I’m thrilled to welcome Bonafide to WellSky. Together we will work to support this expanding market with the full suite of WellSky solutions and our tech-enabled services to better collaborate and achieve successful outcomes for even the most complex patient populations.”
The two companies will further invest in services, analytics, and interoperability to improve care delivery and strengthen financial performance.
WellSky brings a network of more than 2,000 hospitals and 130,000 providers to Bonafide clients and provides access to the nation’s largest referral network and increased visibility.
In the last year, more than one million referrals were sent to HME/DME providers using its hospital discharge solutions, said WellSky.
As part of the acquisition, Bonafide CEO Mark Ludwig will continue in the same position, and Bonafide clients will see no immediate changes to the services they are receiving.
US-based boutique investment bank IKONA Partners served as the exclusive financial advisor to Bonafide and DCA Partners, on this transaction.
Bonafide CEO Mark Ludwig said: “Since our founding more than 40 years ago, Bonafide has made it our mission to offer the best technology available to the DME/HME industry.
“Now, by joining forces with WellSky, we embark on an exciting new chapter for our team, our clients, and our future growth.
“Together, we will be able to expand our capabilities, accelerate our mission, and deliver even greater value to the clients we serve.”
Last month, WellSky partnered with CareRing Health, an integrated home healthcare solutions provider for chronically ill, elderly, and disabled populations in the US.
