GTCR has invested in Transaction Data Systems Inc., which does business as Rx30. Financial terms weren’t announced. Ocoee, Florida-based Rx30 develops and supplies pharmacy management software solutions to the independent, hospital, long-term care and specialty pharmacy markets. Macquarie Corp. and Asset Finance Lending, Golub Capital, ORIX Leveraged Finance, Ares Capital Corp. and Business Development Corp. of America provided financing for the transaction. William Blair & Company served as financial advisor.
OCOEE, Fla. & CHICAGO–(BUSINESS WIRE)–Transaction Data Systems, Inc., doing business as Rx30 (“Rx30” or the “Company”) and GTCR announced today that GTCR completed a strategic equity investment in Rx30 to help accelerate the Company’s new product development and continuing growth. Rx30, headquartered in Ocoee, Florida, is a leading developer and supplier of pharmacy management software solutions to the independent, hospital, long-term care and specialty pharmacy markets. GTCR has partnered with Rx30’s CEO, Steve Wubker, and the existing management team who will continue to lead the Company.
Dedicated to the independent pharmacy market for the last 35 years, Rx30 offers a suite of market-leading software solutions to enable prescription filling, pharmacy management and other critical functions for its pharmacist customers. The Company has deep expertise in providing cutting-edge technology solutions to help pharmacy owners streamline their operations, improve financial performance and better manage their businesses. Rx30 sells its technology to pharmacies across the United States, Mexico and the Caribbean. The Company has a robust pipeline of new products and additional modules that it anticipates launching over the next year.
“We are delighted to partner with Steve Wubker and invest in Rx30,” said Dean Mihas, Managing Director at GTCR. “We believe Rx30’s management team, leading software solutions and strong reputation create a unique position in the pharmacy management software market and provide an attractive platform for continued growth and innovation. We look forward to partnering with Steve and investing behind his vision to develop new and exciting solutions for Rx30’s customers.”
“I am excited to welcome GTCR as investors at an important time in the Company’s evolution as I continue to build and grow Rx30 through additional products and services,” stated Mr. Wubker. “As long-time healthcare and technology investors, GTCR brings significant resources and expertise to our Company, and I believe that together we can offer our customers new capabilities in cutting-edge pharmacy software and support.”
Sean Cunningham, Managing Director at GTCR, added: “We are excited to work with Steve as we look to build upon the strong foundation he has built at Rx30 over the last decade. This transaction also highlights GTCR’s continued interest in the healthcare IT industry and demonstrates our continued enthusiasm for investing in software providers with market-leading technology and service.”
GTCR’s investment in Rx30 was funded from GTCR Fund XI, a private equity fund raised in 2014 with $3.85 billion of limited partner equity capital commitments. Macquarie Corporate and Asset Finance Lending, Golub Capital, ORIX Leveraged Finance, Ares Capital Corporation and Business Development Corporation of America provided financing for the transaction. Kirkland & Ellis LLP served as legal counsel to GTCR. William Blair & Company served as financial advisor.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $10 billion in over 200 companies. For more information, please visit www.gtcr.com.
Rx30 (www.rx30.com) is a total Pharmacy Management Software application that truly acts as the hub for all pharmacy management activities, including prescription dispensing, fully automated refills and reminders, workflow management, adherence management, document management, smart phone/web refills, e-prescribing, POS, outbound customer communication, IVR integration, business reporting, label printing and a myriad of value added processes and interfaces that assist in streamlining pharmacy management activities and driving profit.