Solana Acquisition: Key Details, Impact, and What Comes Next

Sandata Technologies' acquisition of Solana marks a significant expansion in the I/DD and home care market. Announced on October 12, 2020, this strategic move aims to enhance Sandata's service offerings and market presence, particularly in the Medicaid home care sector. The integration of Solana's specialized software and services is expected to bring operational efficiencies and improved care quality to a broader range of providers.

What Is Solana?

Founded in 1991, Solana specializes in providing software solutions tailored for the I/DD and home care sectors. Its core products include electronic visit verification (EVV) systems, billing and payroll management, and client data management tools. Solana differentiates itself in the market through its comprehensive, user-friendly platforms designed to streamline administrative tasks and improve service delivery for care providers. This focus on operational efficiency and quality care sets Solana apart in the industry.

Who Acquired Solana?

Sandata is a leader in data-powered homecare solutions, specializing in improving communications, reducing inefficiencies, and delivering comprehensive insights across the homecare continuum. Key products include agency management platforms, revenue cycle management services, and electronic visit verification (EVV) systems. Sandata's market position is bolstered by its pioneering role in EVV since 1994 and its extensive client base, which includes homecare agencies, I/DD agencies, managed care organizations, and state Medicaid programs.

When Was Solana Acquired?

Sandata acquired Solana on October 12, 2020. This acquisition came at a time when the home care industry was rapidly evolving, driven by increased demand for efficient, technology-driven solutions. The timing aligns with Sandata's strategic efforts to expand its footprint in the I/DD and Medicaid home care markets, enhancing its service offerings and operational capabilities. This move reflects broader industry trends towards consolidation and technological integration to improve care quality and administrative efficiency.

Why Was Solana Acquired?

• Market Expansion: The acquisition of Solana allows Sandata to significantly broaden its reach in the Medicaid home care market, particularly in the sector serving individuals with Intellectual or Developmental Disabilities (I/DD). This strategic move enables Sandata to tap into new geographic markets and customer bases, enhancing its overall market presence.
• Technology Integration: Solana's specialized software solutions, including electronic visit verification (EVV) systems and revenue management services, complement Sandata's existing technology offerings. By integrating Solana's advanced technology, Sandata can provide more comprehensive and efficient solutions to its clients, improving service delivery and operational efficiency.
• Competitive Advantage: The acquisition strengthens Sandata's competitive position by combining the expertise and innovative technologies of both companies. This strategic alignment enhances Sandata's ability to offer superior solutions, thereby creating a significant edge over competitors in the home care industry. The combined capabilities aim to build the largest network of payers and providers, further solidifying Sandata's market leadership.

Acquisition Terms

• Acquisition Price: The acquisition price was not publicly disclosed.
• Payment Method: The payment method was not specified in the available information.
• Key Conditions or Agreements: Specific conditions or agreements were not detailed. However, the acquisition emphasizes the alignment of company cultures, a focus on excellent client service, and a commitment to innovation to improve the home care industry.

Impact on Solana

The acquisition of Solana by Sandata has led to notable changes in operations and management. Solana now operates under Sandata's umbrella, with Doug Nafziger serving as the VP of the Solana Business Unit. This integration aims to streamline operations and leverage Sandata's extensive resources to enhance Solana's service delivery. The combined expertise of both companies is expected to drive innovation and operational efficiency, benefiting both employees and clients.

Product offerings and services have also seen significant enhancements. Solana's specialized software solutions, including revenue management and electronic visit verification (EVV) systems, are now part of Sandata's comprehensive suite. This integration has bolstered Solana's ability to serve I/DD providers nationwide, leading to positive customer feedback and new client acquisitions. Employees have expressed optimism about the merger, seeing it as an opportunity for growth and improved service delivery. For founders considering business transitions, tools like Sunset can assist in managing such processes compliantly, ensuring a smooth and efficient transition.