iMDsoft, a provider of high acuity clinical information systems, today announced that it has been acquired by TPG Growth, the middle market and growth equity investment platform of TPG.
iMDsoft’s flagship product, the MetaVision Suite, is a solution designed to automate hospitals’ high-acuity clinical workflow. Over 230 hospitals in 25 countries have chosen the MetaVision Suite, including 4 of the top 10 hospitals in the US and 13 of the top 50 hospitals in Europe. Using MetaVision, customers have significantly improved care quality and patient safety, enhanced financial performance and increased compliance with complex clinical and administrative protocols. iMDsoft was founded in 1996 by Phyllis Gotlib and Dr. Ido Schoenberg and is based in Needham, MA (www.imd-soft.com).
“We are excited to be joining forces with iMDsoft,” said Matthew Hobart, Managing Director of TPG Growth. “The market for software systems designed to manage and coordinate care for acutely ill patients is growing rapidly. iMDsoft has succeeded in developing, marketing and deploying innovative technologies to some of the most demanding healthcare customers in the world. Recent implementations across state-wide health networks in North America, Australia and Europe demonstrate the pervasive need for the company’s products.”
“TPG’s investment in our company is an important stamp of approval of what the iMDsoft family has accomplished and we are thrilled to partner with them. We believe that TPG Growth’s assets, access to top tier talent and management expertise will enable us to execute on our ambitious growth strategy, continue our trajectory of technological innovation and support our growing worldwide customer base,” said Phyllis Gotlib, CEO of iMDsoft. “Exploding healthcare costs have become a global crisis, and our MetaVision Suite, as well as our series of new products currently under development, can help health systems, hospital networks and governments reduce their cost of care while simultaneously improving clinical outcomes. Together with TPG Growth, we are well positioned to continue our mission on a larger scale.”
TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With $3 billion under management, TPG Growth targets investments in a range of industries and geographies, utilizing leveraged buyout, growth equity, and private investment in public equity structures. The firm has offices in San Francisco, Ft. Worth, New York, Hong Kong, Beijing, Singapore and Mumbai (www.tpggrowth.com).
