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WellSky Expands Investment in Hospice Technology with Acquisition of Consolo Services Group

December 14, 2018

LENEXA, Kan.--(BUSINESS WIRE)--Dec 14, 2018--WellSky, a leading health and community care technology company backed by TPG Capital, and Consolo Services Group, a portfolio company of Bluff Point Associates and leading provider of fully-integrated, web-based health IT solutions for the hospice and palliative care industries, are pleased to announce that WellSky has acquired Consolo Services Group.

“Consolo’s purpose-built technology is an excellent addition to WellSky’s market-leading hospice software. This acquisition further strengthens our position as a leader and innovator in the post-acute care space,” said Bill Miller, CEO of WellSky. “By combining our expertise in hospice software and services, WellSky Hospice and Consolo will enhance the experiences for our customers across both companies. We’re thrilled to acquire an organization that shares WellSky’s commitment to fostering a culture of innovation, providing superior customer service, and enabling better care.”

As the elderly population in the U.S. continues to rapidly grow, the need for high quality and cost-efficient post-acute care is also increasing. WellSky Hospice and Consolo anticipate their collaboration in comprehensive hospice, palliative care, adult day care, and memory care technologies will help post-acute care providers elevate their quality of care, fulfill regulatory demands and mandates, and meet ever-growing patient and provider needs. Aligned in their dedication to powering better post-acute care, WellSky and Consolo will continue to operate, develop, and support both hospice electronic health record (EHR) platforms.

Both WellSky and Consolo deliver comprehensive and cloud-based solutions that support a growing number of post-acute care settings. WellSky sees significant growth potential by incorporating Consolo’s strong palliative care capabilities, and the opportunity to deliver solutions to palliative care customers. Consolo also offers adult day care and memory care technology, presenting attractive growth opportunities, extensions, and development to answer industry requirements as well as customer and patient needs.

“WellSky shares Consolo’s passion in providing hospice and palliative care providers with the solutions they need to improve operations, streamline clinical workflows, and enhance patient satisfaction, especially as the demands for these services continue to grow alongside our aging population,” said Greg Kite, CEO of Consolo. “We want to thank Bluff Point for helping us get to this point in our company development. We are very excited to be joining the WellSky team and look forward to collaborating with them to deliver innovative solutions dedicated to the post-acute care market.”

“It has been a pleasure working with Greg Kite and his team and developing a leading solution in the hospice and palliative care space,” said Kevin Fahey, Managing Director of Bluff Point Associates. “We wish Consolo and WellSky the very best in their next phase of growth.”

Consolo will maintain its headquarters in Lexington, Kentucky with Mr. Kite continuing to lead the team in that location. Both WellSky and Consolo will combine their history and knowledge of hospice software and solutions to further improve the experience for all their customers.

For more information, visit WellSky.com.

About WellSky

WellSky is a technology company advancing human wellness worldwide. Our software and professional services address the continuum of health and social care — helping businesses, organizations, and communities solve tough challenges, improve collaboration for growth, and achieve better outcomes through predictive insights that only WellSky solutions can provide. A portfolio company of TPG Capital, WellSky serves more than 10,000 customer sites around the world — including the largest hospital systems, blood banks and labs, home health and hospice franchises, government agencies, and human services organizations. Informed by more than 30 years of providing software and expertise, WellSky anticipates providers’ needs and innovates relentlessly to help people thrive. Our purpose is to empower care heroes with technology for good, so that together, we can realize care’s potential and maintain a healthy, flourishing world. For more information, visit www.WellSky.com.

About Consolo Services Group

Based in Lexington, KY, Consolo Services Group is a dynamic healthcare information technology company. The Consolo product has been in the market for over 15 years and was developed specifically for hospice and palliative care providers. From the start, Consolo has always leveraged its single-instance multi-tenant database cloud solution which has accelerated development efforts and allowed for cutting-edge clinical tools and industry-standardized data. Hospice and palliative care agencies can expect to improve their performance and bottom line with the Consolo platform. For more information, visit consoloservices.com or call 877.846.5831.

About TPG

TPG is a leading global alternative asset firm founded in 1992 with more than $84 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com.

About Bluff Point Associates

Bluff Point Associates is a private equity firm based in Westport, Connecticut. Bluff Point actively invests in middle-market information services companies supporting the banking, trust, securities, retirement and wealth management sectors of the financial services industry, as well as the healthcare information services sector. For more information, please visit http://www.bluffpt.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181214005039/en/

CONTACT: for WellSky

Virginia Anderson, 602-885-2000

virginia@allisonpr.com

KEYWORD: UNITED STATES NORTH AMERICA KANSAS

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE PRACTICE MANAGEMENT HEALTH HOSPITALS OTHER HEALTH MANAGED CARE

SOURCE: WellSky

Copyright Business Wire 2018.

PUB: 12/14/2018 11:30 AM/DISC: 12/14/2018 11:30 AM

http://www.businesswire.com/news/home/20181214005039/en

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