Cressey & Company Makes Growth-Oriented Investment in SaaS Home Care Provider HHAeXchange
NEW YORK, Jan. 8, 2019
NEW YORK, Jan. 8, 2019 /PRNewswire/ -- HHAeXchange ("HHA" or "the Company"), a leading provider of home care management software, announced today that Cressey & Company LP ("Cressey & Company" or "the Firm"), a healthcare-focused private investment firm, has completed a growth-oriented investment in the Company.
Founded in 2007, HHA offers a comprehensive Software-as-a-Service ("SaaS") platform to its customers that improves patient outcomes, drives operational efficiency and increases compliance. This investment positions HHA to further execute its growth strategy of providing best-in-class enterprise management and workflow solutions to home care providers and payors.
Greg Strobel, HHA's President and Chief Executive Officer, will remain in his current role and continue to lead the Company. "In seeking a partner, we were attracted to Cressey & Company's long track record of success in the healthcare industry," said Strobel. "HHA is well positioned in a thriving industry, with a comprehensive and proven technology platform. With the support of Cressey & Company, we aim to expand our reach while providing the same best-in-class SaaS functionality HHA has become known for."
"We are excited to partner with HHA and its leadership team," said Cressey & Company Partner Dave Rogero. "They have built an exceptional company by developing strong customer relationships and providing solutions that enable better outcomes for patients. We intend to leverage these core fundamentals to accelerate the Company's growth and expansion."
In conjunction with Cressey & Company's investment, Andy Hurd, who is one of the Firm's Operating Partners, has been appointed Chairman of the Company's Board of Directors. Hurd is an experienced healthcare information technology executive who previously served as Chief Executive Officer of MedeAnalytics, Epocrates and Carefx.
"We look forward to our new partnership with HHA's talented team," said Hurd. "The Company's platform, which allows for direct connectivity between payors and providers, is a true differentiator. We plan to support HHA as it continues innovating and building upon its already strong suite of enterprise management and workflow solutions for the home care industry."
Lincoln International acted as financial advisor to HHA, while Wells Fargo Bank and Kirkland & Ellis LLP provided debt financing and legal counsel, respectively, to Cressey & Company.
Founded in 2007, HHAeXhange offers a comprehensive homecare management software solution for the Medicaid Long Term Services and Supports population. HHA's customers include both regional and national home care payors and providers. The Company is headquartered in Long Island City, New York with additional offices in Florida, Ireland, and India. For more information, visit www.hhaexchange.com.
About Cressey & Company LP
Based in Chicago, IL and Nashville, TN, Cressey & Company LP is a private investment firm focused on building leading healthcare provider, service and information technology businesses. With a history spanning nearly 35 years, the Cressey & Company team is one of the most experienced and successful in the healthcare private equity field. For more information, visit www.cresseyco.com.
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SOURCE Cressey & Company