The combination of these companies provide a comprehensive solution for payers and providers in both traditional and self-direction homecare services
Fremont, CA: HHAeXchange, a renowned provider of homecare management solutions for payers, providers, and state Medicaid agencies, acquired the Boston-based company, Annkissam. Annkissam is a software provider for the state financial management service (FMS) organizations that support self-direction programs that provide assistance to those who are aging or have disabilities thrive in their homes and communities.
HHAeXchange and Annkissam create a comprehensive SaaS platform to deliver advanced technologies for the business, operational, and financial management to the rapidly growing Medicaid homecare and self-direction services markets.
Greg Strobel, chief executive officer of HHAeXchange, will lead the combined organization. “The growth of self-direction services is accelerating, fueled by the pandemic, an aging population, and scarcity of caregivers. As more states move Medicaid toward a managed care model, HHAeXchange with Annkissam is uniquely positioned to support these organizations,” said Strobel. “With the talented team from Annkissam, we look forward to offering technology solutions to a broader range of programs and organizations across our expanding national footprint.”
Annkissam provides support to HCBS agencies in 38 states, enabling HHAeXchange to fully participate in the quickly expanding self-direction market. Annkissam co-founder Mollie Murphy is an industry veteran and a thought leader who has assisted in the design of federal and state programs that involves the Centers for Medicare and Medicaid Services (CMS), the Internal Revenue Service (IRS), the Veterans Health Administration, and several state organizations.
“We are thrilled to become part of the HHAeXchange family at this important time when the need is expanding for self-direction programs,” said Murphy. “Along with introducing our solutions to an even broader market, our existing clients will continue to work with the same team members they’ve come to know and trust.”
Shasta Partners played a critical role as the exclusive financial advisor to Annkissam on the transaction.