Sandata Secures Significant Growth Equity Investment from Accel-KKR
PORT WASHINGTON, N.Y., July 24, 2019 /PRNewswire/ -- Sandata Technologies, LLC, the leading provider of Electronic Visit Verification ("EVV") and home health technology solutions, today announced it has secured a significant growth equity investment from Accel-KKR, a leading Silicon Valley-based investment firm. Sandata's mission is to maximize the value of every in-home encounter, optimize the efficiency of home-care providers, and integrate payers and providers to improve care delivery.
"The home care market in the US is growing rapidly and is on a path to become a strategic component of the overall health delivery network. Sandata is focused on providing innovative solutions to our customers who serve this market including State Payers, MCOs and Providers," said Tom Underwood, Chief Executive Officer of Sandata. "We could not be more excited to partner with Accel-KKR and leverage the firm's experience and resources to help Sandata continue to execute on our vision and deliver value to our customers."
"We are excited to work with Sandata to accelerate the company's journey," said Park Durrett, Managing Director at Accel-KKR. "Sandata's market leading solutions have supported stakeholders in the home care industry for nearly forty years. We look forward to working hand-in-hand with management on this next phase of growth."
"As the EVV and broader homecare markets continue to evolve rapidly, we will invest in continued product innovation and customer support so that Sandata is best positioned to serve its customers," said Andrew Zbella, Vice President at Accel-KKR.
TripleTree, LLC acted as exclusive financial advisor to Sandata for this transaction.
About Sandata
Sandata Technologies is a leading U.S. provider of home care solutions that enable government agencies, Managed Care Organizations, and home care providers to manage and optimize the delivery of services. Sandata's suite of products includes Sandata Electronic Visit Verification™ (EVV™), a market leading Cures Compliant EVV solution; Santrax® Agency Management and Santrax® Payer Management, web-based software solutions with features including a jurisdictional solution for states and other payers, Santrax® Member Management, an ADA Section 508 compliant member portal for self-directed programs. Sandata is the only vendor that has a CMS certified EVV implementation, and experience with all four models currently deployed for EVV compliance with the 21st Century Cures Act: Provider Choice, MCO Choice, State Choice, and Open Vendor.
About Accel-KKR
Accel-KKR is a technology-focused investment firm with over $7.5 billion in capital commitments. The firm focuses on software and IT-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park, California, with additional offices in Atlanta and London.
SOURCE Sandata Technologies, LLC
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