# Netsmart: A Search-Fund Exit Buyer

The behavioral-health records incumbent, buying the product built next to it, and a buyer whose own case is written in outcome numbers rather than multiples.

- Website: https://www.ntst.com/

Also on this site: https://searchspheresource.com/buyers/exit
Source: https://searchspheresource.com/buyers/exit/netsmart
Not dated: These rows date a purchase to a YEAR. A year padded to January the first invents a precision nobody measured.

## Who They Are

Netsmart sells electronic health records and care-management software to behavioral health, human services and post-acute providers under a platform it calls CareFabric, and leads with more than fifty years of operating history from its Overland Park base. Worth saying plainly: beyond that longevity and the headquarters, it publishes no client count, revenue or employee number on its corporate pages, so its size has to be read from its product pages rather than from a fact block.

For a searcher in vertical software this is the category incumbent that buys the tool built beside it. Its own release makes the case in measured outcomes taken from the acquired product rather than from a model, naming how much faster clinical notes were signed and how many more clients a month a user served. A meeting with a buyer like this is run by product and clinical people, and the thing being priced is a measured customer outcome you can evidence.

## The Exits They Bought

Each row is a company a searcher built, with the year of the exit and the sources that establish both halves: the buyer's own announcement, and the record showing the company was searcher-owned.

### Remarkable Health (2021)

Peter Flick formed Cedar Lake as his acquisition vehicle and, with Anacapa, bought ClaimTrak, a behavioral-health records pioneer, rebranding it Remarkable Health and building an artificial-intelligence clinical documentation assistant on top of it. Netsmart acquired the company in December 2021 and quoted Flick as its chief executive in the announcement.

- Source: https://www.ntst.com/company/news/news-release-netsmart-accelerates-ai-healthcare-remarkable-health
- Source: https://anacapapartners.com/site/global/anacapa/portfolio/index.gsp

Site index for machines: https://searchspheresource.com/llms.txt