Sale by TripleTree will impact the expansion of long-term care market offerings
MINNEAPOLIS--(BUSINESS WIRE)-- TripleTree is pleased to announce that its client, Resource Systems, developer of the Care Tracker® point-of-care electronic documentation systems currently used by more than 3,000 organizations, was acquired by Cerner Corporation (Nasdaq: CERN). Resource Systems’ solutions are complementary to Cerner’s current long-term care offerings, allowing Cerner to offer enhanced value through improved reimbursement and better residential care to clients in the long-term care marketplace. According to the American Health Care Association, there are currently more than 15,000 long-term care facilities in the United States, and this number is expected to increase significantly as the population ages.
TripleTree was the exclusive financial advisor to Resource Systems. TripleTree led Resource Systems’ shareholders and management through a thorough assessment of its strategic and financial exit alternatives. Cerner was seen as an excellent strategic fit that met the objectives of both the shareholders and employees of Resource Systems. This is the second company in the past 18 months that TripleTree has sold to Cerner.
“This is a great business fit and cultural match for Resource Systems and Cerner. Cerner plans to use the Resource acquisition as a catalyst for a major push into long-term care,” says Dave Henderson, TripleTree co-founder and managing director.
“Cerner and Resource Systems share a common view of the value of empowering clinicians to provide better, more accurate care,” stated Larry Triplett, president and co-founder of Resource Systems. “Cerner’s resources and dedication to improving health opens the door for us to create additional solutions that enable clinicians to identify and treat resident health issues before they become problems.”
About Resource Systems
Resource Systems is a leader in healthcare technology systems. Care Tracker, the company’s flagship technology solution, is an innovative documentation system that helps long-term care centers improve quality, reduce risk, ensure compliance, and improve the bottom line. Privately held since its founding in 1980, Resource Systems has more than 3,000 Care Tracker clients throughout the nation.
Cerner® solutions optimize processes for healthcare organizations ranging in size from single-doctor practices, to health systems, to entire countries, for the pharmaceutical and medical device industries, and for the healthcare commerce system. These solutions are licensed by more than 8,000 facilities around the world, including approximately 2,100 hospitals; 3,300 physician practices covering more than 30,000 physicians; 500 ambulatory facilities, such as laboratories, ambulatory centers, cardiac facilities, radiology clinics and surgery centers; 600 home-health facilities; and 1,500 retail pharmacies.
TripleTree, is an independent investment bank and strategic advisor providing growth companies in healthcare and other technology-enabled vertical industries with merger and acquisition, private capital and principal investing services.
Cate Murphy, TripleTree, LLC
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