Warburg Pincus has completed the acquisition of DocuTAP, a provider of information technology to healthcare services providers.
DocuTAP’s software products are used by urgent care and primary care clinics for the maintenance of electronic medical records, practice management, and revenue cycle management. The company’s products are used by approximately 1,300 urgent care and primary care clinics. DocuTAP has 250 plus employees and is headquartered in Sioux Falls, SD (www.docutap.com).
DocuTAP was founded in May 2000 by its chief executive officer Eric McDonald. “Warburg Pincus is the ideal partner to position us for a future of growth as we expand our product line. I’m excited that they share our vision for the future of DocuTAP in leading the on-demand healthcare market,” said Mr. McDonald.
“Convenience, simplicity, and speed are what consumers want,” said Vishnu Menon, Managing Director, Warburg Pincus. “As the leader in urgent care technology, DocuTAP is positioned to take the reins in the on-demand healthcare market. We look forward to partnering with Eric and the rest of the leadership team to support their strategy of increasing the company’s market presence, continuing its rapid expansion, and bolstering its product line.”
Warburg Pincus has more than $40 billion in assets under management and has raised 15 private equity funds since its founding in 1966. In November 2015, the firm reached a final close of Warburg Pincus Private Equity XII, LP at the hard cap of $12 billion. Warburg Pincus is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo and Shanghai (www.warburgpincus.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-5-16