Cleveland, OH & Atlanta, GA — March 19, 2019 — Primus Capital (Primus), announced that it has made a major growth investment in Harmony Healthcare IT (HHIT). Founded in 2006 and based in South Bend, IN, HHIT offers a HIPAA-compliant and cost-effective data extraction and legacy data archiving solution for healthcare facilities decommissioning clinical, financial, administrative or other software systems. HHIT’s enterprise platform enables a one-stop migration and archiving solution that is required by regulators for a healthcare facilities’ storage and protection of sensitive legacy PHI data.
“Harmony Healthcare IT is recognized for its industry-leading solutions and broad expertise in extracting, migrating and transforming data from the widest variety of systems. HHIT is positioned for continued growth as providers rationalize their software portfolios,” said Phil Molner, Managing Partner of Primus. Chris Welch, Director of Primus, added, “Primus is pleased to add a leading data management firm to its investment portfolio and excited to partner with the leadership team to build upon HHIT’s successes to date.”
“Primus offers one of the strongest healthcare technology disciplines among growth investors,” said Tom Liddell, Chief Executive Officer of HHIT. “We could not be more excited for this investment, which will accelerate our delivery of legacy data management services to healthcare enterprises. While we specialize in clinical and financial systems, we also provide a comprehensive approach to legacy data management for enterprise resource planning, accounting, human resources and other business systems. We look forward to this next step in our evolution.”
The investment will accelerate HHIT’s strong performance with its flagship product, HealthData Archiver®, as well as other services aimed to reduce the expense of legacy data management while preserving vital information. HealthData Archiver® is a data management platform providing a single point of access to historical patient, employee or business data for healthcare enterprises. The web-based solution, with its release of information workflows, Single Sign-On integrated clinical views, revenue cycle features and eDiscovery capabilities, provides a significant return on investment for healthcare delivery organizations decommissioning legacy systems. The solution consolidates data stores, reduces out-of-production system maintenance costs, mitigates technical risk, complies with record retention mandates and offers both interoperability and data analytics capabilities.
The management team at HHIT will continue to be actively involved in day-to-day operations as well as in strategic planning to further advance and expand the company.
Brentwood Capital Advisors LLC (BCA) served as the exclusive financial advisor.
Founded in 1984 and with offices in Cleveland and Atlanta, Primus is a growth-oriented private equity firm focused on investing in leading healthcare, software, and technology-enabled services companies. We are currently managing Primus Capital Fund VIII, building on a long history of successful investing. We have invested in over 130 companies, partnering with exceptional management teams to accelerate growth and create shareholder value by applying our industry knowledge, financial resources, and investment experience. For more about Primus, visit https://www.primuscapital.com.
About Harmony Healthcare IT and HealthData Archiver®
Since 2006, health IT analysts at Harmony Healthcare IT have extracted demographic, financial, clinical 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 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 software brands, billions of records and petabytes of data, Harmony Healthcare IT — with its product, HealthData Archiver® — provides clients with access to historical records. Simply. For more about Harmony Healthcare IT, visit http://www.harmonyhit.com.