TPG Growth, the middle market and growth equity investment platform of TPG, has acquried iMDsoft. Financial terms weren’t disclosed. iMDsoft provides clinical information systems.
iMDsoft, a worldwide leader in high acuity clinical information systems, today announced it has been acquired by TPG Growth, the middle market and growth equity investment platform of TPG, the global private investment firm. Financial terms of the transaction were not disclosed.
iMDsoft was founded in 1996 by Ms Phyllis Gotlib and Dr Ido Schoenberg. The Company’s flagship product, the MetaVision Suite, is a market leading solution designed to automate hospitals’ high-acuity clinical workflow. Over 230 hospitals in 25 countries have chosen the MetaVision Suite, including 4 of the top 10 hospitals in the US and 13 of the top 50 hospitals in Europe. Using MetaVision, customers have significantly improved care quality and patient safety, enhanced financial performance and increased compliance with complex clinical and administrative protocols.
“We are excited to be joining forces with iMDsoft,” said Matthew Hobart, Managing Director of TPG Growth. “The market for software systems designed to manage and coordinate care for acutely ill patients is growing rapidly. iMDsoft has succeeded in developing, marketing and deploying innovative technologies to some of the most demanding healthcare customers in the world. Recent implementations across state-wide health networks in North America, Australia and Europe demonstrate the pervasive need for the Company’s products.”
Phyllis Gotlib, CEO of iMDsoft said, “TPG’s investment in our company is an important stamp of approval of what the iMDsoft family has accomplished and we are thrilled to partner with them. We believe that TPG Growth’s assets, access to top tier talent and management expertise will enable us to execute on our ambitious growth strategy, continue our trajectory of technological innovation and support our growing worldwide customer base. Exploding healthcare costs have become a global crisis, and our MetaVision Suite, as well as our series of new products currently under development, can help health systems, hospital networks and governments reduce their cost of care while simultaneously improving clinical outcomes. Together with TPG Growth, we are well positioned to continue our mission on a larger scale.”
iMDsoft is a leading provider of proven clinical information systems worldwide. The Company’s products are designed to enhance quality of care for critically ill patients and improve financial performance for healthcare providers. Hospitals, healthcare systems, and major medical centers across North America, Europe, Asia and Australia are using iMDsoft’s innovative technology to promote patient safety, contain costs, support research and compliance, and achieve sustainable market leadership. The award-winning, patented MetaVision Suite was first implemented in 1999. The system uses a single platform to automate workflows in a variety of high-acuity environments, including intensive care, pre-op, operating room, post-op, step-down units, and general in-patient beds. To learn more about iMDsoft visit www.imd-soft.com.
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With $3.0 billion under management, TPG Growth targets investments in a broad range of industries and geographies, utilizing leveraged buyout, growth equity, and private investment in public equity (PIPE) structures. TPG and its affiliates have significant healthcare experience with investments in Aptalis Pharma, Healthscope, Biomet, Fenwal, IASIS Healthcare, IMS Health, Oxford Health Plans, Parkway Holdings, Quintiles Transnational, ShangPharma and Surgical Care Affiliates, among others. The firm is backed by the resources of TPG with $51.5 billion of assets under management. TPG Growth has offices in the United States, China and India. Please visit www.tpggrowth.com for more information.