Great Hill Partners has acquired Qualifacts Systems, a provider of electronic health records for the behavioral health and human services industries.
“Qualifacts has emerged as a recognized leader in behavioral health software, but there’s more we want to do to ensure that our customers are successful for the long-term,” said David Klements, President & CEO of Qualifacts. “To help us maximize our full potential, Qualifacts management wanted a financial partner with the right experience and resources. Great Hill was a perfect fit and we’ve already hit the ground running.”
Qualifacts is the largest cloud-based provider of electronic health records (EHR) and billing systems for behavioral health and human services providers. The company’s single platform EHR, CareLogic Enterprise, serves more than 50,000 behavioral health professionals across the country. In the past five years, the company has grown its customer base by 1000% and workforce by 650%. Qualifacts is based in Nashville (www.qualifacts.com).
“We are delighted to partner with David and the entire Qualifacts team,” said Mark Taber, a Managing Partner with Great Hill Partners. “Qualifacts offers a unique and powerful platform for behavioral health organizations to drive operational efficiencies, improve access to patient information, and quickly adapt to changing billing and compliance regulations.”
Great Hill Partners manages over $2.5 billion in capital to finance the expansion, recapitalization or acquisition of growth companies in a range of sectors within the media/communications, Internet, business services, consumer services, financial technology, healthcare technology, software, and transaction processing sectors. The firm targets investments of $25 million to $150 million. Great Hill Partners is based in Boston (www.greathillpartners.com).
“We believe Qualifacts has tremendous growth potential as behavioral health providers seek ways to manage increasing patient volume along with highly dynamic state and federal funding requirements,” said Rafael Cofiño, a Principal with Great Hill Partners.
Qualifacts was advised by Raymond James Health Care Investment Banking Group based in Nashville (www.rjhealthcarebanking.com).
2014 PEPD • Private Equity’s Leading News Magazine • 7-30-14