TA Associates invests in RCM tech solutions provider Alpha II

• As part of the transaction, existing shareholder WestView Capital Partners will reinvest alongside TA to maintain a minority position in Alpha II
• William Blair served as financial advisor for Alpha II and WestView
• Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and businesses services

TA Associates has agreed to invest in Tallahassee, Florida-based Alpha II, a provider of revenue cycle management technology solutions to healthcare providers across the care continuum. No financial terms were disclosed.

As part of the transaction, existing shareholder WestView Capital Partners will reinvest alongside TA to maintain a minority position in Alpha II.

The transaction is expected to close in June.

Alpha II was founded in 1983.

“We have followed Alpha II for many years and have been impressed by the Company’s commitment to developing innovative solutions that evolve with the needs of providers,” said Mark Carter, managing director and co-head of the North America healthcare group at TA in a statement. “As medical coding complexity grows and providers demand increasingly advanced solutions, we aim to support the expansion of Alpha II’s product suite via organic and acquisition-driven growth, while continuing to deliver ROI for our customers. We are thrilled to partner with Todd, the Alpha II team and WestView on the journey ahead.”

As part of TA’s investment, Mark Carter, Ethan Liebermann, and Eric Zagorski will join the board of directors.

Kirkland & Ellis provided legal counsel to TA. William Blair served as financial advisor and Latham & Watkins served as legal advisor for Alpha II and WestView.

Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and businesses services. The firm has raised $48.6 billion in capital to date.