Healthcare business Studer Group has secured a strategic investment from JMI Equity, a growth equity firm focused on investing in software, Internet, business services and healthcare IT companies. Founded in 1992, JMI Equity has invested in more than 100 businesses in its target markets and has over $2.1 billion of committed capital under management.
Studer Group, an outcomes-based healthcare performance improvement firm, recently announced the completion of an investment from JMI Equity, a growth equity firm focused on investing in leading software, internet, business services and healthcare IT companies.
“We determined that to best serve our clients at a time of increasing pressures on healthcare systems, hospitals and medical practice groups, we should continue to expand our services and the depth of our offerings to more quickly drive improvements in the organizations we serve,” said Studer Group founder Quint Studer. “We believe JMI Equity is the right partner to help us accomplish our goals. The firm’s expertise in helping growing companies enhance their capabilities is a good fit for Studer Group at this time in our development.”
BG Porter, Studer Group CEO said, “Our strategy is to accelerate the development of evidence-based practices proven to work best, in the shortest time and with the greatest clinical and financial impact for healthcare organizations. We will continue innovating leadership and practice techniques, software solutions, educational institutes, and publications that healthcare professionals have come to rely on.”
“The ultimate mission,” Porter added, “is to help clients consistently achieve better outcomes for their patients, employees and physicians – to build cultures of sustainability. We are confident that our partnership with JMI will continue to enable us to achieve this goal.”
Studer concluded, “Since Studer Group was founded over a decade ago, we’ve measured every decision we’ve ever made against one question: Will this result in better care for patients? It drives everything we do, and we are excited to take our organization to the next level for the health of healthcare in this country.”
Cain Brothers served as financial advisor to Studer Group, and King & Spalding LLP and Clark, Partington, Hart, Larry, Bond & Stackhouse served as legal counsel. Goodwin Procter, LLP served as legal advisor to JMI Equity. BMO Capital Markets, Madison Capital Funding LLC and MidCap Financial LLC acted as joint lead arrangers for the senior credit facility in support of the strategic investment, with NewStar Financial, Inc. participating in the senior credit facility. D. E. Shaw Direct Capital Portfolios, L.L.C., a member of the D. E. Shaw group and THL Credit, Inc. (Nasdaq:TCRD) provided subordinated debt.
About Studer Group
A recipient of the 2010 Malcolm Baldrige National Quality Award, Studer Group is an outcomes-based healthcare performance improvement firm that has worked with more than 800 hospitals, health systems, medical practices, and end-of-life organizations to achieve and sustain operational, clinical and financial results. Through its national learning lab of clients, Studer Group harvests and refines the best practices for achieving and sustaining results. Studer Group’s mission is to change the face of healthcare by creating a better place for employees to work, physicians to practice medicine, and patients to receive care.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software, internet, business services and healthcare IT companies. Founded in 1992, JMI Equity has invested in more than 100 businesses in its target markets and has over $2.1 billion of committed capital under management. JMI Equity provides capital for growth, recapitalizations, acquisitions and buyouts. Representative investments include Blackbaud, Navicure, PointClickCare and TC3 Health.
Chuck Dohrenwend or Kelly Rapoport
The Abernathy MacGregor Group