TA Associates has made an undisclosed investment in Datix, a specialty healthcare patient safety software provider. Arma Partners served as financial adviser to Datix on the transaction. Previous backer Five Arrows Principal Investments will retain a “significant” stake in Datix. In addition to the funding, Naveen Wadhera, a managing director at TA Associates, and Ethan Liebermann, a principal at TA Associates, have been added to Datix’s board of directors.
BOSTON and LONDON, May 2, 2018 – TA Associates, a leading global growth private equity firm, today announced that it has completed an investment in Datix, a specialty healthcare patient safety software provider. Existing investor Five Arrows Principal Investments, the European corporate private equity business of Rothschild Merchant Banking, will maintain a significant equity stake in Datix. Financial terms of the transaction were not disclosed.
Founded in 1986, Datix is a leading global provider of patient safety and healthcare risk management software. The company’s suite of software products enables over 20,000 sites among more than 800 customers to address daily incident management and regulatory needs through its interconnected modular solutions. The company is headquartered in London with approximately 160 employees across four offices in the United Kingdom, the United States and Australia.
“As a global company that is seeking to continuously find ways to set the standard for patient safety, we believe it is critical to have financial and operational support to ensure that our customers around the world are receiving the highest quality products and services,” said Seyed Mortazavi, Chief Executive Officer of Datix. “Given TA Associates’ deep experience within the healthcare and technology industries as well as the firm’s value-add resources, we are confident that we have found the ideal partner as we embark upon our next phase of growth. We are delighted to welcome TA as an investor and are equally excited to be able to continue our strategic relationship with Five Arrows.”
As part of the transaction, Naveen Wadhera, a Managing Director at TA Associates, and Ethan Liebermann, a Principal at TA Associates, will join the Datix Board of Directors.
Kirkland & Ellis LLP provided legal counsel to TA Associates. Sidley Austin LLP provided legal counsel and Arma Partners served as financial advisor to Datix.
Datix has been a global pioneer in the field of patient safety over the past three decades and today is the leading provider of software for patient safety, risk management and incident reporting for the healthcare sector.
Datix aims to build and promote a culture of safety within healthcare organizations, recruiting professionals who are passionate about improving healthcare and championing technological innovation. The company continually invests in its software and services, maintaining a leadership position at the forefront of the worldwide patient safety movement.
Datix is focused on the health and social care sector. Its customers include public and private hospitals, primary care providers, GP surgeries, mental health and ambulance service providers. Within the UK, this includes more than 80% of the National Health Service. Internationally, the Datix client base is growing rapidly and includes large-scale deployments in the U.S. and Canada, as well as customers in Europe, Australia and the Middle East. Datix has offices in London, Chicago, Washington, DC and Melbourne with partners in the Middle East, Australia and New Zealand. For more information, please visit www.datix.co.uk.
About TA Associates
Now in its 50th year, TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in nearly 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968 and is investing out of current funds of $7.25 billion. The firm’s more than 80 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.
About Five Arrows Principal Investments
Five Arrows Principal Investments is the European corporate private equity arm of Rothschild Merchant Banking, which manages €8 billion in capital, including €2 billion dedicated to corporate private equity. Five Arrows focuses on investing in European middle market companies which have strong market positions, business models with high revenue visibility and multiple levers to unlock latent value. With a pan-European portfolio of 20 companies and a large “grass roots” network of industry operators, Five Arrows specializes in select sub-segments of Healthcare, Data & Software and Technology-Enabled Business Services. www.rothschild.com/fapi