September 20, 2018
CHICAGO–Ziegler, a specialty investment bank, announced it served as financial advisor in the sale of BlueStrata EHR (BlueStrata) to Mediware Information Systems (Mediware), a portfolio company of TPG Capital.
BlueStrata is a leading cloud-based electronic health record (EHR) platform for long-term post-acute care providers. With the addition of BlueStrata, Mediware expands its technology solutions into the long-term care market. The acquisition allows Mediware to better address the health care needs of the aging population and the business and process needs of the broader post-acute market, through accelerated product innovation as well as extensive analytics.
Founded in 2012, BlueStrata utilizes a cloud-based software as a service (SaaS) model designed to meet the specific clinical, financial, and operational needs of skilled nursing and assisted living facilities.
Mark Turco, director in Ziegler’s Corporate Finance Healthcare practice, commented, “The BlueStrata team has developed a robust, easy-to-use EHR platform that is fully integrated with financial and business intelligence modules, allowing long-term care clients to better communicate across the post-acute care continuum. The partnership with Mediware provides a tremendous opportunity to further scale the business and Ziegler is thrilled to have represented BlueStrata in this transaction.”
Through the acquisition, BlueStrata will have access to expanded resources, including investments in technology, sales, and marketing.
Todd Holtmann, president of BlueStrata, commented, “We are excited by the opportunity to partner with Mediware Information Systems. Mediware understands the importance of home and community-based care and the growth opportunities driven by our aging population and need for higher quality, lower cost care. We thank Ziegler for providing valuable strategic and financial advice throughout the process.” The addition of BlueStrata was the second strategic acquisition Mediware announced in the last few weeks (Mediware recently acquired Fazzi Associates as well and Ziegler represented the seller on both transactions).
Ziegler’s Corporate Finance team is focused on delivering best-in-class advisory and financing solutions for companies and organizations across the healthcare industry. In our core practice areas of healthcare services, information technology, hospitals and senior living, Ziegler is one of the most active M&A firms offering innovative sell-side, buy-side, recapitalization/restructuring, equity private placement and strategic partnering services.