FCA Health Innovations Portfolio Company ShiftWizard Acquired by HealthStream
October 14, 2020
WINSTON-SALEM, NC – FCA Venture Partners (“FCA”) announced that its Health Innovations I portfolio company, ShiftWizard, Inc., has been acquired by HealthStream (Nasdaq: HSTM) for approximately $32 million in cash, subject to working capital and customary purchase price adjustments. FCA Health Innovations I invested $1.2 million in ShiftWizard during its Series A and A-1 financing rounds. The acquisition represents an exceptional outcome for ShiftWizard and delivered a strong return for FCA’s limited partners.
Based in Raleigh, North Carolina, ShiftWizard provides a SaaS-based workforce management platform that integrates scheduling, productivity, and forecasting tools. The company’s software helps healthcare organizations maximize staff availability, reduce costs, and match caregivers to patient needs more effectively. Recognized by KLAS as the Category Leader among scheduling applications in its 2020 Best in KLAS Software and Services report, ShiftWizard achieved a 97% customer retention rate and over 85% staff adoption—the highest in the industry.
The acquisition expands HealthStream’s workforce solutions portfolio, adding a robust scheduling platform that enables hospitals and healthcare systems to make data-driven staffing decisions, reduce administrative burden, and improve labor efficiency. These capabilities have become increasingly important in the COVID-19 environment, where flexible staff allocation is essential for meeting patient-care demands.
Tom Hearn, Partner at FCA Health Innovations and a member of ShiftWizard’s board since 2017, commented, “We couldn’t be more excited for Deb Woods and the ShiftWizard team. Their combination with HealthStream will allow their technology to deliver value across a broader range of healthcare organizations.”
Deb Woods, CEO of ShiftWizard, added, “Our solution helps healthcare organizations achieve the right staffing mix to meet patient needs while saving time and reducing costs. I’m grateful to Tom Hearn and the FCA team for their support and guidance, which played a key role in this successful outcome.”
Robert A. Frist, Jr., CEO of HealthStream, said, “We’re thrilled to add ShiftWizard’s impressive scheduling capabilities to our workforce solutions. With ShiftWizard, healthcare organizations can optimize resources and improve staff utilization—critical advantages in today’s challenging healthcare environment.”
About FCA Venture Partners
Founded in 1996, FCA Venture Partners invests in early-stage healthcare technology and technology-enabled services companies that improve patient care, reduce costs, and increase efficiency. The firm’s Health Innovations funds invest $500K–$3M in fast-growing companies across the Seed to Series A stages. Based in Nashville with offices in Charlotte and Winston-Salem, FCA has deep expertise in healthcare innovation and a decades-long track record of building disruptive yet sustainable businesses. Learn more at fcavp.com.
About ShiftWizard
ShiftWizard, the 2020 KLAS Category Leader for Nurse and Staff Scheduling, is a leading workforce management solution developed by nurses for healthcare organizations. The company’s 100% web-based SaaS platform provides integrated automation for scheduling, productivity, and forecasting. Learn more at shiftwizard.com.