AOD to be bought by MatrixCare
MatrixCare has entered into a definitive agreement to buy AOD Software.
AOD has more than 800 continuing care retirement communities and 1,400 home health and home care locations as customers.
“The businesses are very complementary,” MatrixCare President and CEO John Damgaard told McKnight's. “MatrixCare is strong in senior living segment and AOD is very strong in CCRCs and home health. There's eerily little overlap.”
AOD will continue to be based in Fort Lauderdale, FL, with employees focused on those market segments, he said.
“We're obviously communicating with each segment of customers, but it's business as usual other than benefitting from combined resources,” Damgaard explained.
Terms of the deal were not released, but it was expected to close “in the near future,” he said. While MatrixCare holds a “strong share in every segment,” it does not hold the majority shares in any one segment, making it more palatable to regulators and antitrust approval.
“It's still a very competitive market,” Damgaard observed.