Tech-focused buyout house Francisco Partners has acquired healthcare administrative software provider Office Ally.
Office Ally provide electronic clearinghouse services, revenue cycle management and healthcare software solutions to payers and office-based physicians in the US. Office Ally processes 25 million claims monthly for more than 720,000 providers.
Justin Chen, principal at Francisco Partners, said, “Office Ally’s position at the intersection of payers, providers, and patients provides unique insights into addressing the complexities and administrative burdens in the healthcare system.
“The Office Ally platform delivers significant ROI to their customers, and our investment will support the company’s continued growth, customer focus, and product development including enhanced revenue cycle offerings.”
Francisco Partners has agreed to sell cybersecurity, data intelligence, and IT operations software specialist Quest Software to Clearlake Capital last month in a deal believed to value the business at about $5.4bn.
The firm held a $2.2bn hard cap final close for its second opportunistic credit fund in October, beating its original $1.25bn target.
It was reportedly eyeing up to $10bn for its latest flagship fundraise, with eyes on kicking off marketing later this year.
The news, which was reported by the Wall Street Journal, comes just a year after Francisco wrapped up fundraising for its sixth flagship fund after collecting $7.45bn.
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