MatrixCare acquires SigmaCare
MatrixCare has bought SigmaCare, another electronic health records vendor in the post-acute care market.
The acquisition reflects continued consolidation in the market, with MatrixCare and PointClickCare dominating. MatrixCare serves more than 12,000 facility-based care settings. SigmaCare is based in Manhattan.
“SigmaCare is the dominant player in the greater New York area, which is a strategic focus for us,” said John Damgaard, president and CEO of MatrixCare. “We're confident this acquisition will benefit customers of both organizations, as we leverage each other's strengths to create even more robust product offerings.”
MatrixCare said it will maintain and support existing SigmaCare products for the next five years and “is committed to minimizing disruption to current SigmaCare customers.
“As someone who knows the SigmaCare business very well, I believe its customers should be as excited about this move as we are,” said Stephen Pacicco, SVP of Corporate Development at MatrixCare and former CEO of SigmaCare. “When I left SigmaCare, it was a difficult decision because I believed passionately in the importance of its mission and the commitment of its employees. MatrixCare has the right resources, leadership and vision for the care of America's seniors and I'm excited that, as part of MatrixCare, the SigmaCare customers and employees are now on the right team for the future.”
MatrixCare said that while there may be cases of redundant positions, “we are a company that is experiencing tremendous growth. Therefore, we expect to not only retain the vast majority of existing employees, but add additional headcount as needed.”