Riverside’s private equity

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Riverside’s Acquisition Expands Healthcare Software Provider January 04, 2011

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CareFacts Information Systems Joins HEALTHCAREfirst Platform

The Riverside Company has completed the add-on acquisition of CareFacts Information Systems (CareFacts). Based in St. Paul, Minnesota, CareFacts provides software for homecare, hospice, and public health organizations.

CareFacts joins Riverside Micro-Cap Fund I platform HEALTHCAREfirst, a provider of web-based software and services to home care and hospice agencies. CareFacts builds software solutions that help providers manage clinical and back office information, helping improve patient outcomes and profitability by delivering integrated solutions that meet business and regulatory needs.

“CareFacts enjoys stellar brand recognition in the Midwest, and will be a highly synergistic addition to the HEALTHCAREfirst family,” said Riverside Managing Partner Loren Schlachet. “This is a great opportunity to expand product offerings for customers while making HEALTHCAREfirst bigger and even more effective.”

The CareFacts transaction is the 52nd healthcare industry acquisition in Riverside’s history. Though Riverside is a generalist investor, healthcare is the most prolific of the firm’s industry specializations, which also include education & training and franchising. The software industry, in which both CareFacts and HEALTHCAREfirst also operate, is a burgeoning area of focus for Riverside as well.

CareFacts is Riverside’s 22nd overall acquisition of 2010.

Working with Schlachet on the transaction for Riverside were Jack Nestor, Principal; Brad Resnick, Analyst; and Jeff Goodman, Operating Partner; and David Kralic, Finance Director.

Wells Fargo and THL Credit provided financing for the transaction.

The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring growing enterprises valued at up to $200 million (€200 million in Europe). The firm partners with strong management teams and enhances its investments through acquisitions and organic growth. Since its founding in 1988, Riverside has invested in more than 240 transactions with a total enterprise value of more than $5.4 billion/€4.4 billion. The firm’s portfolio in North America, Europe and the Asia Pacific region includes 71 companies with roughly 14,000 employees. Riverside completes acquisitions smoothly thanks to $3.4 billion/€2.7 billion in assets under management, more than 195 professionals in 19 offices, and longstanding relationships with partner lenders.

Media Contacts

North America and Asia Pacific
Graham Hearns
Director of Marketing and Communications
The Riverside Company

Pablo Fuente
Assistant Director of Marketing and Communications
The Riverside Company
+32 47485911

Media Contact

Holly Mueller
Communications Consultant
The Riverside Company
+1 216 535 2236