Net Health, a portfolio company of Spectrum Equity, has acquired Integritas, a provider electronic health records. Spectrum Equity first invested in Net Health in June 2012.
Integritas is an electronic health records provider to the urgent care, occupational health, and hospital employee health markets. The company is based in Monterey, CA (www.integritas.com).
Net Health designs, hosts and supports SaaS-based electronic health record software for independent and managed wound care clinics. The company’s leading product, WoundExpert, is utilized by over 20,000 healthcare professionals in more than 1,000 healthcare facilities. WoundExpert 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. The company is based in Pittsburgh (www.woundexpert.com).
CapitalSource (www.capitalsource.com) provided a senior credit facility to Net Health to fund the acquisition of Integritas and to provide for ongoing working capital requirements.
“Net Health has an impressive management team with the skills and resources to grow the business significantly over time. Since its inception, the company has experienced strong, consistent growth and gained a leadership position for electronic health record solutions in the wound care market,” said Erik Bissonnette, Director of Technology Cash Flow Lending at CapitalSource. “Our team worked quickly to secure the financing they needed to facilitate this key acquisition. We are pleased to play a role in their continued success.”
Spectrum Equity invests in growth companies in the information industry with particular interest in internet and digital media; communications, media and entertainment; and software and information. Spectrum Equity has raised $4.7 billion in capital across six funds. The firm was founded in 1994 and has offices in Boston and Menlo Park (www.spectrumequity.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 6-7-13
