Private equity firm TA Associates has acquired a majority interest in SoftWriters Holdings, a US-based provider of pharmacy management software to the long-term care (LTC) industry.
The company’s clients include assisted living and skilled nursing facilities, continuing care retirement communities, correctional facilities and other LTC enterprises.
Its products address pharmacies’ day-to-day operational needs such as pharmacy management, facilities management, prescription order entry, electronic claims adjudication and invoicing.
TA Associates director Mark Carter said, “SoftWriters’ products truly empower long-term care pharmacies, helping them improve service to their LTC facility clients.
“FrameworkLTC is considered by many to be the leading product in the industry based on functionality, ability to interface with long-term care facilities and clinical systems, and an easy-to-use web portal.
“SoftWriters is a profitable, growing company with leading technology, highly recurring revenues and a diversified customer base. TA Associates is excited to make this investment to help SoftWriters continue its rapid growth.”
Earlier this month TA bought out Goldman Sachs’ majority stake in payment processing business BluePay through a recapitalisation.
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