MINNEAPOLIS – December 14, 2018 – TripleTree, LLC, a strategic advisor and merchant bank serving innovative companies in healthcare, is pleased to announce that its client, Consolo Services Group, a portfolio company of Bluff Point Associates and leading provider of fully-integrated, web-based health IT solutions for the hospice and palliative care industries, has been acquired by WellSky, a leading health and community care technology company backed by TPG Capital.
Both WellSky and Consolo deliver comprehensive and cloud-based solutions that support a growing number of post-acute care settings. WellSky sees significant growth potential by incorporating Consolo’s strong palliative care capabilities, and the opportunity to deliver solutions to palliative care customers. Consolo also offers adult day care and memory care technology, presenting attractive growth opportunities, extensions, and development to answer industry requirements as well as customer and patient needs.
Consolo Services Group CEO Greg Kite will continue to lead the team from Lexington, Kentucky, where it will maintain its headquarters. Both WellSky and Consolo will combine their history and knowledge of hospice software and solutions to further improve the experience for all their customers.
“We are thrilled with the outcome for Consolo,” said Brian Klemenhagen, Managing Director at TripleTree, “This acquisition demonstrates the need for innovative and comprehensive post-acute care solutions that deliver better care to meet the needs of an aging population. Consolo’s proven expertise in this space and comprehensive product suite position them for continued success and innovation.”
“We greatly valued Triple Tree’s guidance, professionalism, thoroughness, and deep understanding of the business throughout the process,” said Mr. Kite, “Because of their counsel, we are confident that we have found the right partner to continue serving our employees, customers and partners for the future.”
TripleTree acted as the exclusive strategic and financial advisor to Consolo for this transaction.
TripleTree is an independent merchant bank focused on mergers and acquisitions, growth capital, recapitalizations, strategic advisory and principal investing. Since 1997, the firm has advised and invested in some of the most innovative, high-growth businesses in healthcare. For more, visit Triple-Tree.com.
About Consolo Services Group
Based in Lexington, KY, Consolo Services Group is a dynamic healthcare information technology company. The Consolo product has been in the market for over 15 years and was developed specifically for hospice and palliative care providers. From the start, Consolo has always leveraged its single-instance multi-tenant database cloud solution which has accelerated development efforts and allowed for cutting-edge clinical tools and industry-standardized data. Hospice and palliative care agencies can expect to improve their performance and bottom line with the Consolo platform. For more information, visit consoloservices.com or call 877.846.5831.
Office: (952) 223-8400