Brentwood Associates has recapitalized MedBridge, a provider of patient engagement and clinical education solutions for healthcare professionals. No financial terms were disclosed. Moving foward, LLR Partners and MedBridge senior management will maintain significant minority ownership stakes.
SEATTLE–(BUSINESS WIRE)–MedBridge, the industry-leading provider of patient engagement and clinical education solutions for healthcare professionals, today announced that Brentwood Associates has recapitalized the company. Brentwood plans to make significant investments to support continued organic growth, future acquisition opportunities and expansion into additional healthcare settings. LLR Partners and senior management will maintain significant minority ownership stakes going forward.
MedBridge provides patient and provider engagement solutions to improve outcomes and support value-based care, staff retention, risk mitigation, and the patient experience across healthcare provider and payor organizations.
“We’re excited to partner with Brentwood to help accelerate our growth,” said Justin Kowalchuk, Founder and CEO of MedBridge. “With ongoing collaboration from our existing investor, LLR Partners, and this new partnership with Brentwood, MedBridge will continue to deliver on our mission to bring together innovative technology and powerful education to improve lives and raise the quality of healthcare globally.”
MedBridge is a SaaS platform that combines a robust technology offering with a large and growing library of best-in-class content. The company’s platform is widely used across multiple healthcare specialties, including physical therapy, occupational therapy, speech-language pathology and nursing. MedBridge has made significant investments in people, infrastructure and content over the last several years to help accelerate its growth. Brentwood’s investment will be used to expand in existing markets and extend into new healthcare specialties and care settings.
“MedBridge has done an incredible job of supporting its customers to improve healthcare delivery and patient outcomes in both in-person and virtual settings,” said Craig Milius, Partner at Brentwood. “We look forward to working with LLR Partners as well as Justin and the team at MedBridge as they continue to develop new and innovative solutions to support providers and patients across the healthcare landscape.”
“MedBridge has built a unique integrated solution that is highly differentiated in the market,” said Chris Reekie, Principal at Brentwood. “The company is well-positioned to benefit from several meaningful secular trends that we believe will allow for continued extension into new care settings.”
Zack Sigal, Principal at LLR Partners added, “We have very much enjoyed our collaborative partnership with MedBridge, and we look forward to helping drive continued growth with a like-minded partner in Brentwood.”
Aeris Partners advised MedBridge in the transaction and DC Advisory advised Brentwood. DLA Piper served as legal counsel to Brentwood. Morgan Lewis served as legal counsel to MedBridge.
MedBridge believes education is the most powerful way to improve outcomes. The all-in-one integrated platform is designed to help organizations retain their staff, improve the patient experience, and mitigate compliance risk. Recently named by Inc. Magazine as one of the nation’s fastest growing companies, MedBridge drives better patient care while helping 1,700+ organizations improve financial performance through online professional development and patient engagement solutions.
About Brentwood Associates
Brentwood Associates is a Los Angeles-based private equity investment firm with a 30+ year history of investing in middle-market growth-oriented consumer and technology-enabled business services companies. Since 1984, Brentwood’s dedicated private equity team has invested in over 50 portfolio companies with an aggregate transaction value of over $6 billion. Brentwood is a value-added partner for entrepreneurs and senior management teams building world-class companies. For more information about Brentwood, please visit www.brentwood.com.
About LLR Partners
LLR Partners is a lower middle market private equity firm investing in technology and healthcare businesses. We collaborate with our portfolio companies to identify and execute on key growth initiatives and create long-term value. Founded in 1999 and with more than $5 billion raised across six funds, LLR is a flexible provider of equity capital for growth, recapitalizations and buyouts. For more information, visit www.llrpartners.com.