Strategic partnership with Novacap will accelerate Harmony Healthcare IT's technological contribution and expansion in health information technology. This includes infusing artificial intelligence into data handling and modeling and expanding the use cases of legacy data for research and analytics.
SOUTH BEND, Ind. and MONTREAL, Nov. 28, 2023 /PRNewswire-PRWeb/ -- Harmony Healthcare IT (HHIT), a leading health data management and platform solution provider, today announced a significant investment from Novacap, one of North America's premier private equity firms. This strategic partnership will accelerate HHIT's technological contribution and expansion in health information technology.
Renowned for its pioneering offerings and industry expertise, HHIT develops HealthData Platform™, an enterprise-wide, cloud-hosted infrastructure that secures patient, employee, and business records for healthcare delivery organizations in the United States and Canada. This HITRUST CSF®-certified solution empowers healthcare providers to reduce cost and risk in legacy system management through secure storage, release, and interoperability of records.
"This partnership strengthens our ability to preserve vital information and improve lives," says Tom Liddell, Chief Executive Officer at HHIT. "With Novacap, we will invest in technologies that will improve the patient experience. We'll do that by infusing artificial intelligence into our data handling and modeling and expanding the use cases of legacy data for research and analytics."
HealthData Platform™ enables a higher quality of coordinated care and information access for healthcare organizations and its patients by integrating with leading inpatient and outpatient electronic health record (EHR) systems. The company also provides services such as data extraction, migration, retention, matching, and integration as well as records release.
"Harmony Healthcare IT is a standout in the healthcare IT sector," remarks David Brassard, Partner at Novacap. "The company is differentiated by its deep technical and health data expertise as well as its ability to get the job done with high customer satisfaction. Under CEO Tom Liddell's seasoned leadership, Harmony will continue to meet the dynamic data demands of healthcare, powered by its people and by next-generation technology."
In partnership, HHIT and Novacap are exploring new data handling and data use innovations aimed at accelerating the company's growth and expanding its impact on healthcare globally. HHIT currently services a large customer base that includes top-tier health systems, independent hospitals, and ambulatory networks, making them proficient in working with a wide array of clinical, financial, and administrative legacy systems.
Triple Tree, Inc. served as HHIT's exclusive financial advisor.
About Harmony Healthcare IT
Since 2006, Harmony Healthcare IT has extracted clinical, financial, and administrative data from hundreds of healthcare applications – both ambulatory and acute. Headquartered in South Bend, Indiana, the company's mission is to preserve vital information that will strengthen healthcare and improve lives. Harmony Healthcare IT employs experts in data extraction, migration, retention, interoperability and analytics to provide its clients with trusted solutions. Working with hundreds of legacy software brands, Harmony Healthcare IT — with its product, HealthData Platform™ — provides healthcare delivery organizations with easy access to historical records. For more about Harmony Healthcare IT, visit www.harmonyhit.com.
Founded in 1981, Novacap is a leading North American private equity firm with over C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Applying its sector-focused approach since 2007 in Industries, TMT, Financial Services, and Digital Infrastructure, Novacap's deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial capital, Novacap has the resources and knowledge that help build world-class businesses. Novacap has offices in Montreal, Toronto, and New York.
For more information, please visit www.novacap.ca.
SOURCE Harmony Healthcare IT