GPB Capital acquires healthcare software assets from NTT DATA – New company to be named Cantata Health, LLC
Dylan Bestler on March 31, 2017
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Cantata Health, LLC, was created today when GPB Capital, a private equity firm, acquired the healthcare software assets of NTT DATA, Inc.
The acquired software assets include intellectual property, customer contracts and human resources. All other aspects of NTT DATA’s industry-leading healthcare practice remain with NTT DATA, Inc. Cantata Health designs, develops, installs, and supports advanced Revenue Cycle Management (RCM) and Electronic Medical Record (EMR) applications for acute and post-acute care hospitals and long term care facilities. The acute/post-acute applications acquired by Cantata Health will continue to be called “Optimum,” and the long-term care application suite will be marketed under the name “NetSolutions.”
“This transaction will be exceptionally beneficial to our extensive client base of over 1,900+ acute, post-acute, and long-term care facilities,” said Mike Jones, Cantata Health CEO. “As a standalone company, we are well positioned to support these clients as they continue to improve patient care and drive operational efficiency into their organizations. Cantata Health will strive to accelerate development of both the Optimum and NetSolutions applications, and continue to solidify our leadership position in the acute and post-acute markets.”
Optimum
Optimum is a comprehensive set of clinical, revenue cycle management (RCM), and general accounting applications. With a strong and growing customer base of over 240 hospitals and post-acute care facilities throughout North America, Optimum offers sophisticated solutions developed over 40+ years of company experience. The target market for Optimum is small to mid-sized acute care hospitals, and post-acute/behavioral facilities. The clinical applications are characterized by advanced functionality such as Nursing Documentation, Pharmacy, CPOE, and Physician Documentation, in conjunction with interoperability and care continuity platforms. The RCM application set is full-featured, with exceptional functionality in the areas of Patient
Access, Health Information Management, and Receivables Management.
NetSolutions
NetSolutions was designed specifically for the Skilled Nursing, Assisted Living and Independent Living (SNF/ALF/ILF) markets, and has been in operation for over 25 years. Today, NetSolutions operates in over 1700 skilled nursing facilities in North America. The application set is inclusive of a strong financial package and a very sophisticated clinical package application suite.
About GPB Capital Holdings
GPB Capital Holdings, LLC is a New York-based global asset management firm with a focus on income-producing private equity and real estate. GPB provides their portfolio company operators with the strategic planning, managerial insight and capital needed to enable strong businesses to achieve a new level of growth and profitability. GPB-sponsored entities have raised over $1 billion in gross capital to date and have invested in 70 portfolio companies.
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