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Sandata Secures Significant Growth Equity Investment from Accel-KKR
PORT WASHINGTON, N.Y., — July 24, 2019 — Sandata Technologies, LLC, a provider of Electronic Visit Verification and home health technology solutions, today announced it has secured a significant growth equity investment from Accel-KKR, a leading Silicon Valley-based investment firm.
"The home care market in the US is growing rapidly and is on a path to become a strategic component of the overall health delivery network. Sandata is focused on providing innovative solutions to our customers who serve this market including State Payers, MCOs and Providers," said Tom Underwood, Chief Executive Officer of Sandata. "We could not be more excited to partner with Accel-KKR and leverage the firm's experience and resources to help Sandata continue to execute on our vision and deliver value to our customers."
"We are excited to work with Sandata to accelerate the company's journey," said Park Durrett, Managing Director at Accel-KKR. "Sandata's market leading solutions have supported stakeholders in the home care industry for nearly forty years. We look forward to working hand-in-hand with management on this next phase of growth."
"As the EVV and broader homecare markets continue to evolve rapidly, we will invest in continued product innovation and customer support so that Sandata is best positioned to serve its customers," said Andrew Zbella, Vice President at Accel-KKR.
TripleTree, LLC acted as exclusive financial advisor to Sandata for this transaction.
Sandata Technologies is a leading U.S. provider of home care solutions that enable government agencies, Managed Care Organizations, and home care providers to manage and optimize the delivery of services. Sandata's suite of products includes Sandata Electronic Visit Verification™, a Cures Compliant EVV solution; Santrax® Agency Management and Santrax® Payer Management, web-based software solutions with features including a jurisdictional solution for states and other payers; and Santrax® Member Management, an ADA Section 508 compliant member portal for self-directed programs. Sandata has a CMS certified EVV implementation and experience with all four models currently deployed for EVV compliance with the 21st Century Cures Act: Provider Choice, MCO Choice, State Choice, and Open Vendor.
Accel-KKR is a technology-focused investment firm with over $7.5 billion in capital commitments. The firm focuses on software and IT-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park, California, with additional offices in Atlanta and London.
Canadian Software company introduces two new executives to support move into U.S. home care market.
Montreal and Toronto – July 30, 2019 – AlayaCare has broadened its leadership team with the addition of Patrick Charbonneau as Vice President of Product. The Toronto-based home care software company also named Neil Grunberg as Vice President of Strategy and Corporate Development.
Patrick has 15 years of experience leading product teams across multiple industries including at Lockheed Martin Canada and more recently in health technology with TELUS Health, where he led two of its largest and complex product portfolios.
"Patrick's expertise in IT and health, combined with his experience in leading large product teams, make him a perfect fit to help AlayaCare navigate our growing portfolio and rapid growth across global markets," said Adrian Schauer, AlayaCare Founder and CEO. "We are confident that he will set us up for our next phase of growth as we aim to touch even more lives with our technology that is helping transform the industry."
Neil Grunberg, a member of AlayaCare's founding team, now assumes the role of Vice President of Strategy and Corporate Development. He will help map AlayaCare's market strategy, determine next steps for the company's product development and partnerships, and identify, execute and integrate future acquisitions.
"Since day one, Neil has helped guide AlayaCare's evolution, managing everything from client success to defining product features to managing our roadmap to even coming up with the name of the company," said Schauer. "His talent and dedication continue to be part of the backbone of AlayaCare, and we are excited to see what comes next with his new role."
A company news release stated that these senior team changes will help AlayaCare execute its long-term strategic plan and continue its recent expansion efforts. AlayaCare now has over 200 employees and has attracted $50+ million in growth capital since its launch in 2014.
AlayaCare's platform supports back office functions, client and family portals, remote patient monitoring, telehealth, and mobile care workers in one integrated, secure, cloud-based system. Its stated mission is to "transform the industry from a traditional fee-for-service model to one that is technology enabled, outcome-focused for patients, and delivers better experiences for caregivers." AlayaCare was founded in 2014.
©2019 by Rowan Consulting Associates, Inc., Colorado Springs, CO. All rights reserved. This article originally appeared in Tim Rowan's Home Care Technology Report. homecaretechreport.com One copy may be printed for personal use; further reproduction by permission only. email@example.com