Frazier Healthcare Acquires MatrixCare, Appoints Lujan CEO
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geralt The private equity firm Frazier Healthcare Partners has acquired the post-acute software company MatrixCare from ResMed (NYSE: RMD). The transaction makes MatrixCare a standalone company, rather than a subsidiary. Financial terms were undisclosed. In the wake of the deal, the company appointed Frazier Executive in Residence Jonathan Lujan as CEO. Becoming a standalone corporation will enable MatrixCare to move more nimbly and focus more squarely on customer needs, according to Lujan. "We don't have to compete internally with a large parent company for attention and investment, against other businesses that were serving very different markets and different strategies and different priorities," Lujan told Hospice News. "This is going to allow us to make decisions faster, invest with greater focus, and really organize ourselves around our customers' priorities. Our commitment to customers does not change, just our ability to execute better and faster." MatrixCare is a provider of cloud-based electronic health record and revenue cycle management solutions purpose-built for post-acute care settings, including skilled nursing, senior living, home health, hospice and life plan communities. The company's priorities include product prioritization, improving interoperability and building out its automation and AI capabilities, Lujan said. "There are opportunities to reduce...
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