Brightree announced the acquisition of Pacware Software Development
Inc., a full-service software and consulting provider. Within the terms of the
agreement, Pacware president Byron Maynard will join the Brightree management
team as the executive vice president responsible for the Pacware solution.
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| Dave Cormack |
“Acquiring Pacware adds a significant customer base of 800
providers and an exceptional team of industry experts to Brightree,” Dave
Cormack, president and chief executive officer of Brightree, stated in a press
release. “In a climate of declining reimbursement rates and increased
audit pressures, providers require advanced software and services solutions
that enable them to operate more efficiently, increase cash flow, and achieve
greater profitability. By combining the resources … we will better address
the greatest business challenges of a broader group of successful
providers.”
In addition to growing its customer base to more than 2,000 providers,
Brightree will leverage Pacware’s investments in capabilities such as
advanced data conversion utilities for competitive software products in the
market. These capabilities will assist Brightree in its efforts to simplify and
expedite the implementation process for its customers. Pacware’s
California headquarters will also give Brightree a regional office presence on
the west coast to better serve customers.
“Pacware has 800 customers, 60% of which are on the West Coast and
40% on the East and we’re the exact opposite,” Cormack told
O&P Business News. “We have 1,500 customers of which 60%
are on East Coast and 40% on the West … . this will allow us … to address a
wider range of hours and expertise. This is going to give us a West Coast
support.”
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| Byron Maynard |
“By joining forces with Brightree, we are helping our customers
benefit from Brightree’s financially strong business, deep investments in
advanced technology, and dedication to superior customer service. I believe
this is the right move for our customers and the industry as a whole,”
Maynard stated.
Cormack also commented on the company’s planned investments for the
future.
“We’re committed to making a $50 million investment in the
next 4 years in product development and customer service programs so
that’s fairly significant,” Cormack said.
