Frazier Healthcare to Acquire MatrixCare from ResMed
Private equity firm Frazier Healthcare Partners is buying cloud-based EHR software maker MatrixCare from ResMed in a newly announced deal.
If you've ever wondered who keeps the software humming at your local skilled nursing facility or hospice, there's a good chance MatrixCare is involved. The company builds cloud-based electronic health record (EHR) software designed specifically for care settings outside traditional hospitals — think senior living communities, home health agencies, and life plan communities. Now, it's changing hands.
Seattle-based private equity firm Frazier Healthcare Partners has signed a definitive agreement to buy MatrixCare from medical device and software giant ResMed, which trades on both the NYSE and the Australian Securities Exchange under the ticker RMD. Frazier isn't a generalist PE shop dabbling in healthcare — the firm focuses exclusively on the healthcare industry, which signals a strategic bet that out-of-hospital care tech is where serious money is heading.
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MatrixCare has racked up multiple "Best in KLAS" awards, an industry recognition that essentially means clinicians and administrators actually like using the software — no small feat in a sector notorious for clunky, frustrating tech. That reputation makes it a compelling asset for a buyer looking to build in the fast-growing post-acute and long-term care software market.
The deal reflects a broader trend in healthcare private equity: snapping up specialized software platforms that serve an aging population's growing need for out-of-hospital care. As more patients receive treatment outside traditional hospital walls, the software infrastructure supporting those settings becomes increasingly valuable. Financial terms of the transaction were not disclosed in the announcement.
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