GREAT RIVER, N.Y., June 22 /PRNewswire/ -- Netsmart Technologies, a leading provider of software and services for health and human services organizations, today announced an agreement with Genstar Capital, LLC, a San Francisco-based private equity firm. Genstar will provide the capital and strategic healthcare expertise to help Netsmart manage continued growth and expand its solutions to meet the needs of its customers in an increasingly complex industry environment. Genstar's investment focus includes selected segments of the software, healthcare services, life sciences, financial services, and industrial technology industries.
Netsmart provides software as a service (SaaS), self-hosted software solutions and project implementation services to more than 18,000 customer organizations in all 50 states, including 350,000 care providers and 40 state-level mental health systems. Netsmart customers include mental health and substance abuse treatment agencies, psychiatric hospitals, private and group mental health practices, public health departments, intellectual and developmental disabilities organizations, vital records offices and managed care organizations.
"The additional capital resources and strategic healthcare experience on our board of directors provided by Genstar will help us further invest in and expand R&D, professional services and other key areas as we develop solutions to meet fast-evolving industry requirements," said James L. Conway, chief executive officer, Netsmart Technologies. "This includes helping our customers meet the criteria for Meaningful Use funding so they qualify for the billions of dollars in Medicaid and Medicare incentive funds available over the next several years."
The partnership with G
|SOURCE Netsmart Technologies, Inc.|
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