Fortissimo Capital Fund, completed the sale of its holdings in AOD Software to Primus Capital Fund, a US based private equity fund, with expertise in the healthcare sector.
AOD provides a comprehensive suite of clinical, financial, operational, home health, rehabilitation and point of sale software solutions to various healthcare providers, including continuing care retirement communities, skilled nursing, assisted living, and independent living operators. Fortissimo acquired AOD from Magic Software in 2008 for $17 million, a substantial portion of which was financed.
The company is headquartered in Ft Lauderdale Florida. The market for software solutions in the healthcare industry has grown significantly recently due to regulatory considerations and increased life expectancy and AOD was able to capitalize on its leadership in the long term care industry. Due to AOD’s success, Fortissimo was approached by several investment funds and strategic players interested in investing in or acquiring the company and decided to capitalize on its investment.
Fortissimo is backed by leading financial institutions including insurance companies, banks and pension funds. The partners in the fund are: Yuval Cohen (founding and managing partner), Eli Blatt, Shmoulik Barashi, Marc Lesnick, Yochai Hacohen and Yoav Hineman.