McCarthy Capital Fund V Invests in Homecare Software Solutions, LLC
Boston, MA – April 14, 2014 – McCarthy Capital Fund V announced today that it has led a recapitalization of Homecare Software Solutions, LLC, d.b.a HHA eXchange (“HHAX”), the purpose of which is to further accelerate growth.
Headquartered in Long Island City, NY, HHAX is a leading provider of healthcare software solutions to the home care industry. HHAX’s Software-as-a-Service solutions serve both home care agencies and their Payers.
HHAX’s cloud-based product offering includes one of the industry’s most robust and innovative agency management systems, and also a unique and powerful data exchange platform, eXchange Suite, that dynamically links Payers and their contracting agencies.
“We are excited and proud to partner with Raphael Nadel, founder, CEO and visionary behind HHA eXchange,” said Michael McGovern, principal of McCarthy. “Raphael and his team have built an incredible product that has enjoyed rapid market adoption. Our partnership with HHAX will allow the Company to continue its expansion, and to better serve the needs of agencies and Payers nationwide.”
Raphael Nadel commented, “We are thrilled to be partnering with the McCarthy organization. We have spent a great deal of time together over the past few months, and I am confident that McCarthy’s experience and exceptional track record of building businesses are exactly what HHAX needs to help fuel our growth across the US. Further, there is an excellent cultural fit, and we look forward to continuing our growth trajectory with their help.”
The investment in HHAX is McCarthy’s 8th overall investment in Fund V, raised in 2012, and is the 3rd thus far in 2014.
About McCarthy Capital Fund V
McCarthy Capital Fund V is managed by McCarthy Partners Management, LLC, an affiliated RIA of McCarthy Capital (“McCarthy”). McCarthy is an Omaha-based private equity firm, with offices in Boston, focused exclusively on partnering with proven management teams at market-leading companies in growth industries. For more than 25 years, the McCarthy organization has been partnering with founders, families and exceptional management teams to support the growth of their companies. For more information about McCarthy, please visit www.mccarthycapital.com.