HgCapital Trust plans to invest about £24m into HHAeXchange (HHAX), a provider of homecare management solutions for payers, providers, and state Medicaid agencies.
Hg is investing alongside other institutional clients of Hg through the Hg Genesis 9 Fund.
Cressey & Company LP, a healthcare-focused private investment firm which first partnered with HHAX in 2018, will continue to be a significant investor in HHAX. Both investors will share joint governance of the business.
Founded in 2008, HHAX offers a comprehensive software as a service (SaaS) platform to its customers that improves patient outcomes, drives operational efficiency and increases compliance across the homecare ecosystem. Its solutions are delivered through subscription-based enterprise and mobile tools and facilitate over 125 million annual visits for 650,000 caregivers across more than 44 states. Today, HHAX has global offices across North America, Europe, and Asia.