WellSky Corporation Acquires ClearCare to Enhance Home Healthcare Software Platform

On October 22, 2019, VCBeat (WeChat ID: vcbeat) learned via Business Wire that WellSky Corporation (WellSky), a healthcare services company, announced the acquisition of ClearCare, a healthcare and software development company under Battery Ventures (Battery). The acquisition is expected to be completed by the end of 2019, with specific financial terms undisclosed.

Following the completion of this acquisition, ClearCare will gain access to additional resources to expand its technology development and service operations. WellSky has stated that it will continue to invest in ClearCare’s core software platform with the aim of enhancing functionality, improving service levels, and strengthening integration with other care-related products. This acquisition will enable WellSky to provide digital services to its existing customers, thereby meeting the growing demand for home care.

ClearCare, founded in 2010 and headquartered in California, USA, is a healthcare and software development company. The company primarily provides technical support and management services to home care agencies. To date, ClearCare has raised over $75 million in venture capital funding, including a $60 million Series D round led by Battery Ventures in August 2016.

Battery, a global investment firm, is one of ClearCare’s largest shareholders and the seller in this transaction. The firm had previously made multiple investments in ClearCare, and its partner Chelsea Stoner and vice president Duncan Gills also joined ClearCare’s board of directors.

Through ClearCare software, home care agencies can provide patients with daily care and management services, such as helping clients optimize billing, staff management, care delivery, and referral management. Today, ClearCare’s software technology has been adopted by most large home care agencies; among 4,000 agencies in the United States and Canada, 600,000 caregivers are using this technology.

Battery, founded in 1983 and headquartered in Boston, Massachusetts, is a financial services and venture capital firm. The company provides support to enterprises across various stages, from seed funding to private equity, and conducts global investments through its offices in Boston, the San Francisco Bay Area, London, New York, and Israel. Battery primarily focuses on sectors such as application software, IT technology, consumer industries, and mobile internet.

WellSky, founded in 1980 and headquartered in Kansas, USA, is a software technology development company. The company primarily focuses on healthcare and social care, providing technical support to more than 10,000 customer sites worldwide, including hospital systems, blood banks, laboratories, home care agencies, government entities, and public service organizations.

ClearCare CEO Nudd stated, “We are deeply grateful for the support of our investors. ClearCare will continue to collaborate with WellSky to provide technological support to home care agencies, thereby improving people’s health outcomes and quality of life.”

(Compiled by Xu Xiaoxue)