Together, the two companies will enable DME/HME providers to optimize care, accelerate growth, scale their processes, and meet rising demand
OVERLAND PARK, Kan. — October 25, 2024 — WellSky, a leading health and community care technology company, announced today that it has acquired Bonafide, an enterprise software solution for durable medical equipment (DME) and home medical equipment (HME) companies. With the addition of Bonafide, WellSky expands its footprint in DME/HME and will serve more providers with an integrated software platform that allows them to run their businesses compliantly, efficiently, and profitably.
DME/HME is a rapidly growing segment in the healthcare industry, driven by the increasing demand for patient-centered care in the home. Bonafide has built a fully integrated enterprise workflow management platform that combines billing, revenue cycle management, resupply, supply chain, inventory management, mobile delivery, and more to help DME/HME providers accelerate growth. The company serves 200 clients, including some of the largest and fastest-growing DME/HME providers.
“With the rise in chronic conditions, a rapidly aging population, and an increased focus on patient-directed care, the need for high-quality home-based healthcare solutions is more critical than ever,” said WellSky chairman and CEO Bill Miller. “I’m thrilled to welcome Bonafide to WellSky. Together we will work to support this expanding market with the full suite of WellSky solutions and our tech-enabled services to better collaborate and achieve successful outcomes for even the most complex patient populations.”
Bonafide fully integrates purchasing, inventory management, order processing, document management, patient communication, and analytics within a single intuitive user interface. The combination of WellSky and Bonafide will enable more DME/HME companies to improve operations, streamline ordering and administrative processes, and maximize success in the face of industry challenges and regulatory changes.
“Since our founding more than 40 years ago, Bonafide has made it our mission to offer the best technology available to the DME/HME industry,” said Mark Ludwig, CEO of Bonafide. “Now, by joining forces with WellSky, we embark on an exciting new chapter for our team, our clients, and our future growth. Together, we will be able to expand our capabilities, accelerate our mission, and deliver even greater value to the clients we serve.”
WellSky’s offerings in home infusion and home health are highly complementary to Bonafide’s solutions, industry experience, and knowledge. WellSky and Bonafide will further invest in services, analytics, and interoperability to improve care and strengthen solution delivery and financial performance, enabling providers to meet the growing demand for services. Additionally, WellSky brings a network of more than 2,000 hospitals and 130,000 providers to Bonafide clients, providing access to the nation’s largest referral network and increased visibility to patients across care settings. In the last 12 months, over 1 million referrals were sent to HME/DME providers using WellSky’s hospital discharge solutions.
Ludwig will continue to lead the Bonafide team, and Bonafide clients will see no immediate changes to the services or support they are accustomed to receiving. Looking ahead, WellSky and Bonafide aim to deliver additional innovations within the software platform and bring new, complementary offerings to power Bonafide clients’ success.
IKONA Partners, a San Francisco-based technology-focused boutique investment bank, acted as the exclusive financial advisor to Bonafide and DCA Partners in this transaction.
For more information, visit WellSky.com.
Media Contact
Emma Neal
Phone: 617.401.3131
Email: emma.neal@allisonworldwide.com
About WellSky®
WellSky is one of America’s largest and most innovative healthcare technology companies leading the movement for intelligent, coordinated care. Our proven software, analytics, and services power better outcomes and lower costs for stakeholders across the health and community care continuum. In today’s value-based care environment, WellSky helps providers, payers, health systems, and community organizations scale processes, improve collaboration for growth, harness the power of data analytics, and achieve better outcomes by further connecting clinical and social care. WellSky serves more than 20,000 client sites — including the largest hospital systems, blood banks, cell therapy labs, home health and hospice franchises, post-acute providers, government agencies, and human services organizations. Informed by more than 40 years of providing software and expertise, WellSky anticipates clients’ needs and innovates relentlessly to build healthy, thriving communities. For more information, visit wellsky.com.
About Bonafide®
Founded in 1981, Bonafide, a cloud-based healthcare information technology company, combines its powerful DME/HME ERP software with a healthcare facility portal and other products to serve the DME/HME, acute care, and long-term care (LTC) healthcare settings. Bonafide’s DME/HME ERP is the best business workflow management available in the industry and the only software fully and seamlessly integrated into all your management decisions. Bonafide’s core technology allows DME/HME providers to maximize efficiency, productivity, and profitability. For more information, visit Bonafide.com.
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