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ABRY to buy Sentry Data Systems

ABRY Partners is buying Sentry Data Systems Inc., a provider of technology to help healthcare providers reduce costs, according to a source and a May 4 notice on the FTC web site.

The price tag is not clear, though one source, a banker, said the company is selling for more than $200 million.

Sentry went up for sale late last year, a different banker said. TripleTree is advising on the Sentry auction, which included many private equity bidders, several sources said.

Deerfield Beach, Florida-based Sentry, a healthcare IT company, provides software that hospitals, clinics, integrated delivery networks and pharmacies use for analytics, procurement and compliance, Sentry’s website said.

The investment is coming from ABRY’s eighth fund, which closed at $1.9 billion last year, the FTC notice said.

Boston-based ABRY targets investments in media, communications as well as business and information services. The firm typically invests between $25 million to $150 million equity per deal, according to the ABRY website. In 2012, ABRY acquired SourceMedical, a provider of outpatient information solutions and revenue cycle management services. TripeTree also advised Source Medical on the sale.

Executives for Sentry Data, TripleTree and ABRY could not immediately be reached for comment.

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