BIRMINGHAM,Ala.and NEW YORK, April 7, 2021 /PRNewswire/ --KKR, a leading global investment firm, announced today that it has agreed to acquire a majority interest in Therapy Brands (the “Company“), a leading practice management and electronic health record (EHR) software platform for mental, behavioral, substance use recovery, applied behavior analysis (ABA) and physical rehabilitation healthcare providers, from its existing shareholders investment funds affiliated with Lightyear Capital LLC, Oak HC/FT and Greater Sum Ventures. Existing investor PSG will participate in the transaction alongside KKR and continue to be a minority shareholder in Therapy Brands. Financial details of the transaction were not disclosed.
Founded in 2013, Therapy Brands provides end-to-end, purpose-built software solutions to streamline the full clinical, administrative and reimbursement workflows of healthcare professionals in multiple end markets. Its HIPAA-compliant solution suite supports the daily operations of more than 28,000 practices across the U.S., ranging from individual providers to national multi-location practice groups.
“Provider and patient friendly technology-enabled solutions are more important than ever as the demand for mental and behavioral health services continues to rapidly increase,“ said Kimberly O'Loughlin, CEO of Therapy Brands. “We are excited to welcome KKR as our new investor, which brings a deep understanding of the healthcare sector and extensive experience in scaling technology-enabled platforms. This support will help us accelerate our mission of making it easier for providers to navigate an increasingly complex administrative landscape so they can spend more time and focus on delivering improved outcomes for their clients.“
Therapy Brands' technology platforms address the underserved practice management needs of mental and behavioral healthcare professionals, including psychologists, psychiatrists, counselors, social workers, ABA clinicians, addiction specialists and physical, speech and occupational therapists. Across its portfolio of leading brands including TheraNest, ShareNote, CodeMetro, AccuPoint,DataFinch, TenEleven, Procentive, Fusion Web Clinic, and A2C Therapy Brands offers comprehensive and customized practice management and EHR services along with integrated capabilities for telehealth, data collection and interoperability, revenue cycle management, e-prescribing and payments. Therapy Brands' technologies are purpose-built, focused squarely on improving the patient experience and decreasing the administrative burden for practitioners so they can spend more time focused on the health and well-being of their clients and businesses.