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D.A. Davidson & Co. Acts as Exclusive Financial Advisor to Remarkable Health in Its Sale to Netsmart

December 3, 2021

Firm’s digital health group leads sale process of behavioral health software and AI vendor to leading PE-backed strategic

D.A. Davidson & Co. announced today that it has served as exclusive financial advisor to Remarkable Health in its sale to Netsmart, a leading provider of healthcare software solutions and services to help providers deliver whole-person, value-based care.

Remarkable Health is a software company focused on providing behavioral health, substance abuse, and human service organizations with the technology they need to create efficiencies and streamlined user experiences so clinicians can focus on positive client outcomes rather than administrative obstacles. Remarkable offers CT|One®, a purpose built electronic health record (EHR) platform and Bells, the industry’s first virtual clinical documentation assistant powered by AI and natural language processing. The Bells solution has proven to ease the documentation burden and reduce documentation time by 50% and works as a companion to the EHR experience.

“The Behavioral Health industry has many positive tailwinds,” said Greg Hartlein, a director in D.A. Davidson’s Technology Investment Banking Group. “The destigmatization of treatment, focus on ‘Whole Person Health’ by payors and health plans, and new afflictions caused by the pandemic have resulted in unprecedented demand for services. At the same time, the industry is undergoing a massive labor shortage and a shift to value-based care. Providers need technology, such as Remarkable Health’s AI solution, Bells, to do more with less, retain talent, and submit medically accurate documentation more quickly. We were thrilled to partner with Pete and team on this important transaction and are excited to watch the next evolution of Bells with Netsmart.”

The combination between Netsmart and Remarkable Health will provide clients of both companies with additional offerings and improved clinician experiences. The partnership will enhance provider’s digital workflows and clinical staff productivity using AI innovations and create a new industry standard for human services and post-acute care.

“D.A. Davidson ran an efficient and competitive process,” said Peter Flick, CEO of Remarkable Health. “Their market and industry knowledge led to an optimal transaction resulting in a terrific outcome for shareholders, our clients, and employees. It was a great partnership with Greg and his team.”

D.A. Davidson’s technology investment banking practice is one of the most active middle market groups in the United States having advised on over 50 advisory and public equity transactions representing more than $20 billion in value since January 2021.

D.A. Davidson’s investment banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle market clients worldwide across four industry verticals: consumer, diversified industrials, financial institutions, and technology.

 

Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,475 employees and offices in 28 states.

Subsidiaries include: D.A. Davidson & Co., a full-service investment firm, providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.

For more information, visit dadavidson.com.