US private equity firm Thoma Bravo has closed its growth investment in Circle Cardiovascular Imaging, a Calgary-based provider of cardiovascular imaging software solutions. No financial terms were disclosed. Deutsche Bank Credit Solutions and Direct Lending provided funding for the deal.
Thoma Bravo Completes Strategic Growth Investment in Circle Cardiovascular Imaging
CALGARY, AB and SAN FRANCISCO, April 20, 2022 /PRNewswire/ — Thoma Bravo, a leading software investment firm, today announced the completion of its strategic growth investment in Circle Cardiovascular Imaging Inc. (“Circle CVI”), the global leader in cardiovascular imaging solutions.
Circle CVI is the leading provider of AI-based cardiac imaging and reporting solutions, including cardiac MRI (“CMR”) and cardiac computerized tomography (“CT”) imaging post-processing software. The company has developed a deep portfolio of specialized, accurate and intuitive solutions that are an integral part of precision medicine and enable physicians to deliver the highest quality care to their patients. Circle CVI’s solutions are used by thousands of clinical users, at both hospitals and academic institutions, in more than 50 countries. Thoma Bravo’s investment will bring significant operational and financial resources to allow the company to grow its leadership in the global cardiac imaging industry.
“With the close of this transaction, we’re excited to work with the Thoma Bravo team to accelerate our growth, drive continued product innovation and further solidify Circle CVI as the market leader,” said Greg Ogrodnick, CEO and Co-Founder of Circle CVI. “Together, we can continue building even better solutions and products to serve cardiovascular professionals and their patients across the world.”
“Circle CVI is the category leader in cardiac image post-processing solutions, and through our partnership we can help continue the company’s momentum and advance its product offerings while unlocking new global growth opportunities,” said Carl Press, a Partner at Thoma Bravo. “We are thrilled to work with Greg and the entire Circle CVI team and look forward to helping the company reach even greater heights.”
AGC Partners served as financial advisor to Circle CVI and Osler, Hoskin & Harcourt LLP served as legal counsel. Kirkland & Ellis, LLP and McMillan LLP served as legal counsel to Thoma Bravo. Deutsche Bank Credit Solutions and Direct Lending provided committed financing for the transaction.
About Thoma Bravo
Thoma Bravo is one of the largest private equity firms in the world, with more than $103 billion in assets under management as of December 31, 2021. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm’s deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired or invested in more than 375 companies representing over $190 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco. For more information, visit www.thomabravo.com.
About Circle Cardiovascular Imaging Inc.
Circle Cardiovascular Imaging Inc. develops world-class, advanced reading and reporting solutions for cardiac imaging. Circle CVI is a prominent company in the global cardiac imaging community, bringing together an experienced and dedicated team of over 150 people and offering multi-language support around the globe. Circle CVI’s imaging platform, cvi42, is the best-in-class cardiovascular imaging reading and reporting solution for cardiac MR, cardiac CT, cardiac interventional planning and electrophysiology. Annually, millions of cardiac exams – in over 1,000 hospitals and in more than 50 countries – are interpreted using cvi42. For additional information, please visit www.circlecvi.com or contact: firstname.lastname@example.org.