healthcare IT

Warburg Pincus Acquires DocuTAP

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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

The Riverside Company Invests in Medical Payment Exchange

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The Riverside Company has made an investment in Medical Payment Exchange, a provider of healthcare-related claims management services.

Medical Payment Exchange (MPE) is a health care information technology company that assists its customers with managing their reimbursement claims by bundling claims into more manageable cash flow streams, thereby reducing the administrative burden of claim management. MPE was founded by Tom Blair and is based in Rockville, MD (no website found).  Mr. Blair and his management team at MPE have previously launched and developed four successful healthcare ventures, including Catalyst Health Solutions and United Payors & United Providers.

Riverside has experience in healthcare/healthcare IT investments having completed more than 70 healthcare transactions, and has a dedicated Healthcare Industry Specialization team.  “Riverside will provide much more than capital to help drive the growth of MPE,” said Mr. Blair.  “We feel extremely fortunate to be able to draw on the expertise of Riverside and its senior advisors.”

Riverside Senior Advisor Harvey Sigelbaum introduced Tom Blair to Riverside. The Riverside transaction team of Managing Partner Hal Greenberg and Vice President Jay Reynolds worked on the transaction.

“We’re thrilled to support a great team with a tremendous vision for a value-added service,” said Mr. Greenberg. “We see a real need for MPE’s service offering, and anticipate strong growth driven by a talented and experienced management team.”

The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”). Riverside specializes in investing in SEMM companies (those valued up to $250 million) and partners with management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in more than 350 transactions with a total enterprise value of more than $6 billion. The firm’s current portfolio includes more than 70 companies. The Riverside Company is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).

2014 PEPD • Private Equity’s Leading News Magazine • 9-26-14

Marlin Equity Partners Acquires 6N Systems

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SigmaCare, a portfolio company of Marlin Equity Partners, has acquired 6N Systems, a provider of financial and clinical software. Marlin acquired SigmaCare (formerly eHealth Solutions) in July 2013.

“The 6N acquisition is highly synergistic with SigmaCare’s existing product offering,” said Jim Brady, Healthcare Operating Partner at Marlin. “A fully integrated, single-vendor offering combined with 6N’s geographic proximity will allow SigmaCare to build upon its market leadership while further strengthening its long-standing customer relationships.”

6N Systems is a provider of financial and clinical software to the long-term and post-acute care market. The company is based in Clifton Park, NY (www.6nsystemsinc.com).

SigmaCare develops and markets financial and clinical software that is used to lower risk, reduce rehospitalizations, decrease costs and increase reimbursement for long-term and post-acute care facilities. The company is based in New York (www.sigmacare.com).

Marlin Equity Partners invests in businesses that have revenues of $20 million to $1 billion and that are in the process of undergoing varying degrees of operational, financial or market-driven change. Sectors of interest include technology, healthcare, consumer products and services, business services, manufacturing, aerospace & defense, distribution & logistics, and media. The firm has $2.6 billion of capital under management. Marlin is headquartered in Los Angeles with an additional office in London (www.marlinequity.com).

“We are excited by the opportunity to bring our solution to a broader market and we’re looking forward to collaborating with SigmaCare on a joint product strategy combining the best features from both systems,” said Darcy Baldwin, 6N Systems’ Chief Operating Officer.

© 2013 PEPD • Private Equity’s Leading News Magazine • 8-12-13