HEARST BUYS INTEREST IN HOMECARE AND HOSPICE FIRM@

HEARST BUYS INTEREST IN HOMECARE AND HOSPICE FIRM@

(For use by New York Times News Service clients)@

c.2013 Hearst Newspapers@

NEW YORK Hearst Corporation has agreed to acquire an 85 percent interest in Homecare Homebase, LLC, a leading provider of comprehensive software-as-a-service solutions to the homecare and hospice market.

The announcement was made Monday by Hearst Corporation President & CEO Steven R. Swartz and Homecare Homebase CEO April Anthony. Terms of the acquisition were not disclosed. The transaction is expected to close by the end of the year following receipt of necessary government approvals.

Upon completion of the transaction, Dallas-based Homecare Homebase will become part of Hearst's healthcare group, led by Hearst Business Media President Richard P. Malloch, which includes First Databank, Zynx Health and MCG (formerly Milliman Care Guidelines). Anthony will continue as CEO of the company.

Swartz said, "This investment will expand our commitment to leading the healthcare information industry in an effort to improve the efficiency and affordability of patient care."

Founded in 2001, Homecare Homebase has been dedicated to providing homecare and hospice agencies with a best-of-breed healthcare information system that is fast, flexible and customizable to their unique operational requirements. The Web-based enterprise allows users to decrease costs and streamline agency operations, according to the Hearst announcement.

The company has over 100 leading homecare and hospice agency customers, who combined have over 52,000 users conducting more than 20 million patient visits annually.

The software allows office staff, field staff and physicians to exchange information and enables agencies to automate workflow processes and ensure accurate billing through numerous integrated checks and balances, according to the announcement.