Buyout firm Thoma Bravo LLC is exploring a sale of Global Health Exchange (GHX), a software company that helps track medical and surgical supplies that could be worth as much as $1.3 billion, including debt, according to people familiar with the matter.
Thoma Bravo has hired investment bank Goldman Sachs Group Inc (GS.N) to run an auction for GHX, the sources said this week, asking not to be identified because the matter is confidential.
GHX generates 12-month earnings before interest, tax, depreciation and amortization of about $100 million, the people said.
Thoma Bravo, GHX and Goldman Sachs declined comment.
Based in Louisville, Colorado, GHX offers a mix of technology and consulting services to help healthcare companies hold down costs and improve the efficiency of their supply chains.
Its most prominent service is a cloud-based electronic trading exchange that hosts transactions between more than 5,000 healthcare providers and nearly 1,000 suppliers in North American and Europe.
Thoma Bravo acquired GHX in 2014 for an undisclosed sum from a consortium of 20 owners that included hospitals, group purchasers and medical suppliers.
Healthcare technology was one of the liveliest areas of dealmaking in 2016, largely because healthcare IT companies benefited from efforts by healthcare providers to hold down costs and improve efficiency, a push partly prompted by the Affordable Care Act.
In the largest healthcare IT deal last year, McKesson Corp (MCK.N), a healthcare distributor, sold of most of its healthcare technology unit to ChangeHealth, a health IT firm owned by Blackstone that will become an independent, publicly traded company this year.
Photo: Surgical operating room with equipment. Photo courtesy ©iStock/sudok1