Generational Equity, a leading mergers and acquisitions advisor for privately-held, middle-market businesses, is pleased to announce the acquisition of its client, MealTracker, headquartered in Hornell, New York, by MatrixCare, headquartered in Bloomington, Minnesota. The acquisition closed on October 5, 2015.
MealTracker® creates and supports dietary and nutritional menu planning software specifically designed for the long-term care market. They are a dedicated and nimble group that has a passion for solving food-service related problems, and are absolute fanatics about accessible and reliable customer service.
"MatrixCare has the winning vision and strategy to help long-term care providers deliver superior care and better outcomes," said Robert Evans, President and CEO of MealTracker. "We are thrilled for our employees and over 2,000 MealTracker customers to join the growing MatrixCare community." Managing Director Michael Goss led the Generational Equity deal team that advised MealTracker on the transaction. "MatrixCare is a leading EHR platform in the long-term healthcare space, and MealTracker was the perfect add-on to enrich MatrixCare's platform with a robust dietary and nutritional SaaS module. The principals on both sides of the table saw the value to their customers and the healthcare market, and worked together harmoniously to close a fantastic transaction for all involved," stated Goss. John Damgaard, MatrixCare President and CEO, commented, "MealTracker is widely recognized and respected as the gold standard for nutrition management in long-term care settings and serves a who'swho of leading providers. As our industry accelerates its migration to a fee-for-value system, the role of nutrition in providing superior care and better outcomes will be highlighted. We will continue to offer MealTracker broadly in the market and also fully integrated with the powerful analytics, clinical decision support and care coordination technologies provided by the MatrixCare platform." MatrixCare solutions have powered the long-term care continuum for over 30 years. Used in more than 9,000 care settings, MatrixCare is the industry leading, cloud-based EHR across the continuum of care. It helps long-term care and senior living communities deliver superior care, resulting in better clinical and financial outcomes. The MatrixCare Architecture for Long-Term Care allows providers to deliver personcentered care while maintaining high occupancy rates, maximizing revenues, reducing readmissions, and integrating with partners and physicians across the continuum of care.
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