MatrixCare, Bloomington, Minn., a leading provider of electronic health record (EHR) systems designed specifically for long-term care, has announced a definitive agreement to acquire AOD Software, a competing EHR vendor based in Fort Lauderdale, Fla.
Although both companies serve the senior care market, their products excel in different verticals—MatrixCare has a deep footprint in the skilled nursing segment, while AOD has a strong presence in the continuing care retirement community (CCRC)/life plan community arena.
"MatrixCare and AOD share many key values," explained John Damgaard, MatrixCare President and CEO, in the corporate announcement of the deal. "The businesses are also very complementary, with each having a strong market position in each of its areas of strength, and together having a portfolio of ancillary solutions that apply very well across care settings…. By integrating our collective technologies under a common care coordination platform, we will be able to offer the industry's first true full-spectrum solution for helping the emerging set of conveners and diversified LTPAC operators to deliver superior care and better outcomes."
Merging the two company product lines—and their client lists—will give MatrixCare access to more than 800 CCRCs and 1,400 home health sites in addition to its own massive portfolio of skilled nursing sites. In addition, the cross-continuum interoperability could provide new opportunities for data analytics.
The deal is subject to regulatory approval. An transaction completion date has not yet been named.