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WellSky Acquires California-based Bonafide to Meet Rising Demand

WellSky has acquired California-based health tech company Bonafide.

Posted October 30, 2024

WellSky has acquired California-based Bonafide, a company that specializes in software solutions for durable and home medical equipment.

The acquisition will see Overland Park-based WellSky gain over 200 new clients in the durable medical equipment (DME) and home medical equipment (HME) market, according to a release. The DME/HME market is a growing segment in the healthcare industry with Bonafide establishing a platform for billing, revenue cycle management, resupply, supply chain, inventory management and mobile delivery for its clients. Bonafide was founded in 1981.

“With the rise in chronic conditions, a rapidly aging population, and an increased focus on patient-directed care, the need for high-quality home-based healthcare solutions is more critical than ever,” Bill Miller, CEO of WellSky, said in the release.

Mark Ludwig, CEO of Bonafide will continue to lead the company. Ludwig and his team will continue to work as Bonafide under WellSky.

“Since our founding more than 40 years ago, Bonafide has made it our mission to offer the best technology available to the DME/HME industry,” Ludwig said in a release. “Now, by joining forces with WellSky, we embark on an exciting new chapter for our team, our clients, and our future growth. Together, we will be able to expand our capabilities, accelerate our mission, and deliver even greater value to the clients we serve.”

Financial terms of the deal were not disclosed. San Francisco-based IKONA Partners acted as exclusive financial advisor to Bonafide and DCA Partners in the transaction.