HHAeXchange, a leading provider of homecare management solutions for payers, providers, and state Medicaid agencies, announced today the acquisition of Boston-based Annkissam LLC. Annkissam is a provider of software focused on state financial management service (FMS) organizations supporting self-direction programs that help those who are aging or have disabilities thrive in their homes and communities.
The combined organization creates a comprehensive SaaS platform for the delivery of advanced business, operational, and financial management technology to the rapidly expanding 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 supports HCBS agencies in 38 states, allowing HHAeXchange to fully participate in the rapidly growing self-direction market. Annkissam co-founder Mollie Murphy is an established industry thought leader who has helped design federal and state programs involving Centers for Medicare and Medicaid Services (CMS), the Internal Revenue Service (IRS), the Veterans Health Administration, and many 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 LLC acted as exclusive financial advisor to Annkissam on the transaction.