Warburg Pincus has bought out healthcare Software-as-a-Service business, Qualifacts, from fellow buyout house Great Hill Partners.
The Tennessee-based company provides electronic health records through a Software-as-a-Service platform for the behavioural health and human services markets. Qualifacts’ offering includes cloud-based clinical, financial and administrative software.
The company said it will use the investment to accelerate its product development and expand sales and marketing operations.
Qualifacts added that Warburg may seek to make further bolt-on acquisitions and strategic partnerships for the business.
Great Hill bought Qualifacts in 2014 and under its management, users of the CareLogic Enterprise platform grew to more than 60,000 behavioural health professionals located across 34 states.
“The company’s product suite, combined with a strong presence in the healthy and growing behavioral health and human service end-market, creates a tremendous opportunity for both organic and inorganic growth,” said Warburg Pincus managing director Andrew Park.
Warburg, a long-time investor in healthcare, has deployed over $10bn in more than 150 healthcare companies since launch.
The firm recently announced that is co-CEO Joe Landy is due to step down from his role next year, shortly after the close of its second Asia fund on $4.25bn in June and the final close of its latest flagship fund on $14.8bn last year.
Copyright © 2019 AltAssets