Abry Partners has agreed to sell Sentry Data Systems, a provider of SaaS solutions that simplify the complexity of pharmacy procurement, 340B regulatory compliance and utilization management, for $400 million. The buyer is the UK’s Craneware. Piper Sandler provided financial advice to Abry and DLA Piper provided legal counsel.
BOSTON, June 8, 2021 – Abry Partners, a leading Boston-based private equity firm, announced today that it has entered into a definitive agreement to sell Sentry Data Systems, Inc., the nation’s leader in pharmacy procurement, compliance and utilization management, to Craneware plc (AIM: CRW.L), a market leader in Value Cycle solutions for the U.S. healthcare market for $400 million.
Sentry Data Systems, Inc., headquartered in Deerfield Beach, Florida, is a leading provider of SaaS solutions which simplify the complexity of pharmacy procurement, utilisation and 340B regulatory compliance in order to maximise cost savings, improve patient outcomes and ensure precise regulatory compliance. Sentry also provides business intelligence and SaaS analytics solutions and consulting services. Visit sentryds.com.
Brent Stone, Partner at Abry Partners, said, “Since our acquisition in 2015 we have worked with CEO Travis Leonardi to grow the company and continue to innovate in the 340B industry, which today serves a customer base of more than 10,000 hospitals, pharmacies and clinics. We want to thank Travis and the entire Sentry team for their partnership and dedication and believe strongly that this is a compelling combination for all stakeholders.”
T.J. Rose, Partner at Abry Partners, said, “We have been proud to support Travis and the Sentry team in continuing their history of innovation and leadership within the sector. We are excited to watch their continued success as they are further empowered by Craneware.”
Travis Leonardi, RPh, CEO at Sentry Data Systems said, “It’s been a privilege to work with ABRY these past six years. Sentry looks forward to continuing to innovate and grow with its new partnership with Craneware.”
The transaction is subject to customary closing conditions and is expected to close over the next month. Piper Sandler served as financial advisor to Abry and DLA Piper provided legal counsel.
About Sentry Data Systems, Inc.
Sentry Data Systems, Inc. is a pioneer in providing technology solutions that help healthcare providers address their three biggest challenges: reducing total cost of care, managing compliance and producing better quality. Thousands of hospitals and care locations across the country rely on Sentry’s integrated platform for their solutions, which provide decision support for millions of unique patients and have helped hospital systems and IDNs realize billions of dollars in documented savings.
About Abry Partners
Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over $90 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5 billion of capital across its active funds. For more information on Abry, please visit www.abry.com.