Private equity firm Riverside has acquired Lewis Computer Services as an add-on acquisition to the Healthcarefirst platform.
Founded in 1984, Lewis provides software and complementary products designed to help home care companies manage their businesses and clinical operations.
This is Riverside’s 43rd healthcare acquisition. It is part of the Riverside Micro-Cap Fund, which seeks fast-growing North American micro companies.
Riverside says Lewis’ products provide an opportunity to cement Healthcarefirst’s product line. The acquisition also opens new opportunities for Healthcarefirst as well as for Healthcarefirst’s and Lewis’ respective customers.
Healthcarefirst provides web-based software and services to the US home care and hospice industries.
Loren Schlachet, Riverside managing partner, says: “Lewis has a diverse customer base and will bring numerous new services to Healthcarefirst customers. This strategic acquisition makes Healthcarefirst a premier player in its niche, and we’re delighted to be adding new and valuable service offerings to clients.”
Bobby Robertson, Healthcarefirst president and chief executive, says: “We are thrilled over the opportunity to create the industry’s strongest and most complete solution provider. Our two companies have unique offerings which, combined, will allow us to fully enable agencies of all sizes to focus on patient care instead of paperwork.”
Jeff Lewis, Lewis founder and chief executive, adds: “Joining Healthcarefirst and receiving the strong backing of Riverside can only mean good things for Lewis. Our services complement the strong competencies of Healthcarefirst, and this partnership will bring wonderful options to our current and future customers. It should be a fruitful relationship for everyone involved.”
Wells Fargo Capital Finance provided the senior financing and THL Credit provided the junior debt.
