Bespoke Partners Initiates Coverage of the Healthcare IT Sector: Bringing Clients Unparalleled Access to Leadership Talent
By Eric Walczykowski, Adam Boone, Zaneb Rashid
Today we are launching sector coverage of the rapidly evolving Healthcare IT space, providing our clients with unmatched visibility and curated access to high-impact leaders for software and SaaS companies.
The move highlights our 80 placements to date of top executives in software and SaaS companies that are breaking new ground in healthcare technology.
As the largest executive search firm focused exclusively on software, our move to initiate coverage of Healthcare IT is driven by the sector’s extraordinary growth and the increasing demand for transformative leadership.
Our goal is to empower Healthcare IT companies with leadership that can excel in this dynamic landscape and create value for investors.
This expansion is a strategic enhancement of our Private Equity Client Services Program, giving our clients curated access to the leaders who are experts in scaling software and SaaS companies.
The Healthcare IT sector is diverse, encompassing R&D information management, patient experience management, electronic health records (EHR), and more. Our established expertise in software and SaaS positions us uniquely to address the leadership needs across these sub-sectors, driving technological innovation and operational efficiency.
As we kick off coverage, we are providing our lists of the most significant deals and the most significant exits of 2023 in private equity backed healthcare IT.
Key Private Equity Healthcare IT Deals of 2023
NextGen Healthcare
Thoma Bravo completed the acquisition of NextGen Healthcare for $1.8 billion. The transaction marked a significant addition to Thoma Bravo’s portfolio, with plans to enhance NextGen’s offerings in EHR software and practice management systems.
NexTech
TPG acquired NexTech for $1.4 billion. The acquisition aims to strengthen TPG’s healthcare services by integrating NexTech’s practice management and EHR solutions into its broader healthcare portfolio.
Commure
General Catalyst backed the merger between Commure and Athelas. The merger is aimed at streamlining care delivery through Commure’s healthcare technology platform and is supported by a $70 million investment.
Apixio
New Mountain Capital and Eir Partners led a follow-on investment to enable the merger of Apixio and ClaimLogiq, creating a leading connected care platform. The merger positions the combined entity to enhance healthcare AI solutions.
ShiftKey
ShiftKey raised $300 million at a post-valuation of over $2 billion. The investment round was led by Lorient Capital, Ares Management Secondaries funds, and Pantheon, aiming to expand ShiftKey’s healthcare staffing solutions.
Key Private Equity Healthcare IT Exits of 2023
Signify Health
CVS Health completed the acquisition of Signify Health for approximately $8 billion. This acquisition represents CVS Health’s continued expansion into home-based healthcare services.
Virgin Pulse
The $3 billion merger between Virgin Pulse and HealthComp was completed, with New Mountain Capital becoming the majority owner. The merger aims to create a comprehensive health platform-as-a-service to improve healthcare outcomes and reduce costs.
NexTech
TPG’s acquisition of NexTech for $1.4 billion was completed. This strategic acquisition is expected to enhance TPG’s healthcare services portfolio by leveraging NexTech’s EHR and practice management solutions.
CorEvitas
Thermo Fisher Scientific acquired CorEvitas from Audax Private Equity. The acquisition is set to strengthen Thermo Fisher’s Laboratory Products and Biopharma Services segment with CorEvitas’s drug safety studies and precision medicine data sources.
Limeade
WebMD Health Services completed the acquisition of Limeade, enhancing its employee experience software offerings. The acquisition further accelerates WebMD’s ability to deliver innovative well-being solutions.
In conclusion, our expansion into the Healthcare IT sector is more than a strategic decision; it’s a commitment to influencing the trajectory of healthcare through technological innovation.
We understand the critical role leadership plays in this sector’s growth and are here to ensure that organizations are equipped with the best.
Stay tuned for more insights and updates as we navigate this exciting journey in Healthcare IT.
For more information on transformative leaders in Healthcare IT please visit www.bespokepartners.com/healthcare
Author:
Eric Walczykowski
Chief Executive Officer
Eric is passionate about building high-performing teams that value doing their best, working together, overcoming adversity and learning.
As a proven growth executive, Eric has served as CEO, President, Board Member, Investor and Advisor for technology companies that achieved over $4.5B in successful exits.
Eric brings to Bespoke Partners significant professional services experience from Deloitte and Andersen, as well as the high-growth client executive perspective for private equity-backed technology companies.
Eric earned an MBA from the Kellogg School of Management at Northwestern University and a BS in Business from Fresno State University.
Outside of work, Eric enjoys spending time with family, coaching baseball, travel, attending live events and sipping good wine.
Author:
Adam Boone
Chief Marketing Officer
Boone has led marketing, demand generation, branding, product management, services marketing, or alliances marketing programs for numerous successful companies including Avaya-acquisition Sipera, Sequoia start-up Syndesis, Subex, CoManage, and others. He has driven joint marketing programs and go-to-market initiatives with iconic industry leaders including Microsoft, IBM, GE, AT&T, Oracle, Comcast, Cisco, Ciena and Samsung.
Boone holds an MBA in Business Strategy from the WP Carey School of Business at Arizona State University and completed the Competitive Marketing Strategy Program at the Wharton School at the University of Pennsylvania.
In his personal time, Boone enjoys travel, fine food and wine, mountain biking, playing and listening to music, and movies.
Author:
Zaneb Rashid.
Research Analyst
Born in Colorado and raised in Austin, Texas, Zaneb graduated from the University of Texas at San Antonio with a B.A. in Psychology and a minor in Biology. Prior to joining Bespoke Partners, Zaneb worked in healthcare before discovering her passion for executive search.