PE-backed DataLink secures funding from investor group

An investor group led by DWS's global private equity business has made a significant investment in DataLink Software, a provider of integrated population health applications for healthcare providers and payors.

An investor group led by DWS’s global private equity business has made a significant investment in DataLink Software, a provider of integrated population health applications for healthcare providers and payors. No financial terms were disclosed. DataLink is backed by Revelstoke Capital Partners.

PRESS RELEASE

TAMPA, Fla., Nov. 24, 2020 /PRNewswire/ — DataLink Software (“DataLink”), a leading provider of integrated population health applications for healthcare providers and payors, today announced that it has received a significant growth investment from an investor group led by DWS’s global private equity business. DWS joins existing investor Revelstoke Capital Partners (“Revelstoke”). With this investment, DataLink will bolster its provider engagement services and pursue strategic M&A initiatives, focused on acquisitions that enhance product functionality to benefit new and existing customers.

“DataLink is pleased by the addition of such accomplished investors to our team as we enter our next phase of transformative growth,” said Kevin Steele, Chief Executive Officer, DataLink. “Since Revelstoke’s growth investment in 2018, DataLink has more than tripled its revenue and has expanded the population base we serve to include Medicare Advantage, Managed Medicaid, and Commercial patients. We plan to build on our success with our leading Evoke360 platform, which aggregates data in a single source, offering a real-time view of a patient’s health, and delivers the highest level of quality, provider engagement and user satisfaction.”

DataLink is a healthcare technology company providing performance management population health software as the “last-mile” connection between healthcare providers and payors. The Company’s software breaks through communication barriers present at all levels of the healthcare industry, delivers more clinical control and insight to payors, managed service organizations, and medical practices, and improves patient outcomes with maximal operational efficiency.

“We look forward to working with this group of high-quality investors as we continue to guide DataLink through its next phase of growth and development,” added Russell Cassella, Managing Partner, Revelstoke. “Under Kevin and his team’s leadership, DataLink has undergone a dramatic transformation to become a leading SaaS platform that has resulted in greatly improved outcomes for over 10 million patients in value-based care settings. We expect that DataLink will continue to expand market share and deliver data-driven insights and workflows to close gaps in care, improve health outcomes, and ensure success for all constituents across the care continuum.”

“We are thrilled to partner with Revelstoke and DataLink’s entire management team as we continue to build a premier, comprehensive population health platform. DataLink is well-positioned for continued growth as the leading platform for managing an increasingly complex healthcare ecosystem,” said Kumber Husain, Head of Private Equity, Americas for DWS.

In addition to the growth equity investment, DataLink also announced that it has raised a Senior Secured Credit Facility led by Varagon Capital Partners, with participation from Comvest Partners and BC Partners Credit. This collaborative partnership will be used to pursue accretive acquisitions.

McGuireWoods LLP acted as legal counsel to DataLink.

About DataLink
Founded in 2001, DataLink is a healthcare technology company that empowers better health by delivering real-time data aggregation, EHR connectivity, and dynamic dashboards and reporting to payors, providers and care partners. DataLink promotes the collaboration of multiple stakeholders across the care continuum, providing a holistic, real-time view of the entire spectrum of patient data, and its intelligent, data-driven solutions drive value by reducing the cost of care, improving quality scores, ensuring risk adjustment accuracy, and simplifying healthcare navigation. www.datalinksoftware.com

About Revelstoke Capital Partners
Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare and related business services sectors. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition growth strategy as it strives to build exceptional companies. Revelstoke is based in Denver, Colorado and has approximately $2.3 billion of assets under management. Since the firm’s inception in 2013, Revelstoke has completed 77 acquisitions, which includes 18 platform companies and 59 add-on acquisitions.

About DWS
DWS Group (DWS) is one of the world’s leading asset managers with USD $892bn of assets under management (as of 30 September 2020). Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.
We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients.

DWS’s Private Equity business provides follow-on capital and liquidity solutions for private equity sponsors and select portfolio assets at different points in the fund’s life. Key catalysts for a capital solution typically include add-ons, growth in new markets or products, debt reduction, cap table reorganization and liquidity for existing investors. The team aims to provide an elegant solution for private equity funds to maintain control of their best assets, while enhancing value via new capital and our involvement as an independent third party, to mitigate conflicts of interest.