Schaumburg, IL and Clearwater, FL — Procura Healthcare Software today announced that it has entered into a definitive agreement to acquire Suncoast Solutions, the hospice technology arm of Empath Health. Vancouver, BC-based Procura released a statement asserting that, "This transaction joins two of the strongest performing companies in the healthcare industry and deepens Procura’s commitment to the industry’s hospice segment, which has rapidly grown to over $20 billion annually."
Procura provides enterprise software to home health agencies, community care agencies, and hospice and residential care agencies in the U.S., Canada, and Australia. Empath Health is a nonprofit integrated network of care. Empath's technology arm, Suncoast Solutions, provides software that supports management of clinical and financial hospice processes and related programs.
Procura's news release explained that this acquisition "reflects the exploding growth of hospice care and the consolidation of healthcare delivery as providers seek to balance costs and profits by expanding into multiple healthcare lines of business. Growth in the hospice industry has also been driven by shifts in patient preferences towards non-acute care, hospice’s cost-saving value proposition, and the aging of the global population, including the U.S. where more than where 10,000 people turn age 65 every day."
Acquisition benefits customers of both companies
The acquisition of Suncoast Solutions strengthens Procura's existing presence in the hospice segment of the healthcare industry and enables Procura to better serve both large and small hospice providers. Procura customers gain broader capabilities and best practices guidance for hospice care, and Suncoast customers gain access to Procura’s investment in technology innovation. The acquisition also supports Procura's vision of an integrated platform for the entire continuum of care.
"Today’s announcement will have a significant impact on home healthcare delivery, whose providers are increasingly adding hospice services to their offerings," said Procura CEO Chris Junker. "The acquisition combines Suncoast’s hospice knowledge with Procura’s expertise in deploying large, global, and complex software solutions to the healthcare community. This means we will be able to offer providers a stronger, fully integrated solution across all their lines of business. The acquisition will also accelerate the development of our next-generation platform that will power hospice and homecare delivery for years to come."
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