Gemspring Capital has acquired Valant Medical Solutions, a provider of behavioral health software for private practices.
Valant’s software-as-a-service platform provides a suite of electronic healthcare record (EHR) and practice management products that are used by more than 2,000 behavioral health practices and more than 12,000 behavioral health professionals to schedule, document, and bill patients. Valant was co-founded by Dr. David Lischner, the company’s president and chief medical officer, and is led by CEO Paul Cook. The company is headquartered in Seattle (www.valant.com).
“Partnering with Gemspring is an exciting new chapter for Valant,” said Dr. Lischner. “Gemspring’s expertise and resources will propel Valant’s growth, allowing us to accelerate our product roadmap, launch new sales and marketing initiatives, and provide better business and clinical outcomes for our customers.”
“As a leader in the behavioral health software market, Valant has developed a highly regarded solution that has empowered mental health professionals to more effectively manage their practices and deliver higher quality patient care,” said Aron Grossman, a principal at Gemspring. “We are excited to partner with David and the entire Valant team to build upon this foundation in the next stage of the company’s growth.”
Gemspring invests in companies that have revenues up to $350 million and are active in the business services, healthcare services, financial services, industrial services, software, and specialty manufacturing sectors. The firm, which held a final closing of its debut fund in November 2016 with $350 million of capital commitments, is based in Westport, CT (www.gemspring.com).
New York-based investment bank Spurrier Capital Partners (www.spurriercp.com) was the financial advisor to Valant.
© 2019 Private Equity Professional | April 15, 2019