Vista Equity Partners has made an investment in TigerConnect, a provider of clinical communication and collaboration solutions to the healthcare industry. No financial terms were disclosed.
PRESS RELEASE
SANTA MONICA, Calif., Jan. 11, 2022 /PRNewswire/ — TigerConnect (the “Company”), maker of healthcare’s most powerful software collaboration suite, today announced it has received a significant strategic growth investment from Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses. TigerConnect will leverage the partnership with Vista to continue its mission to improve patient care through real-time, contextual communications.
TigerConnect delivers cloud-native Clinical Communication and Collaboration (CC&C) solutions to over 7,000 healthcare organizations and 700,000 care team members. Its secure, HIPAA-compliant healthcare communication platform and collaboration suite improves both costs and revenue for healthcare organizations while fundamentally delivering better patient care. TigerConnect has helped thousands of health systems increase care team collaboration and expedite decision-making while minimizing re-admissions and reducing costs. Beyond its foundations as a clinical communications platform, TigerConnect has expanded its suite to include nurse alarm management and event notification, physician scheduling and patient engagement solutions, all of which further enable providers to deliver better, safer patient care.
“At TigerConnect, we are laser focused on improving the care experience for providers and patients, beginning with access to real-time and contextual communication and collaboration throughout every step of the care journey,” said Brad Brooks, Co-Founder and Chief Executive Officer of TigerConnect. “We believe that Vista’s expertise in partnering with founder-led and market-leading enterprise software businesses, coupled with our shared values, align strongly with our mission to provide advanced collaboration technologies that improve care delivery.”
“In 2010, the notion of a universal communication and workflow platform for healthcare did not exist, and TigerConnect transformed that,” said Andrew A. Brooks, M.D., FAAOS, Co-Founder and Chief Medical Officer of TigerConnect. “Together with Vista, TigerConnect’s vision remains to improve outcomes for patients and enhance the daily lives of physicians, nurses and everyone involved within the healthcare system.”
The investment in TigerConnect comes from Vista’s Foundation Fund, which invests in leading middle-market enterprise software, data and technology-enabled companies. TigerConnect will be able to leverage Vista’s expertise in scaling enterprise healthcare organizations, such as its investments in Allocate Software Group, Relias Learning and ESO Solutions, to accelerate the evolution of its health collaboration platform around real-time, contextual data and messaging.
“This investment underscores our Firm’s conviction in clinical collaboration and communication as a mission critical element of the patient care process and a market in which we expect to see increased demand and growth over the next few years,” said Ryan Atlas, Managing Director at Vista Equity Partners. “We look forward to our partnership with TigerConnect and its team, who are at the forefront of a revolutionary shift in how healthcare professionals communicate with each other and with patients to optimize experiences and outcomes.”
Vista’s investment follows an active 2021 for TigerConnect in which the Company facilitated the exchange of more than three billion clinical collaboration messages and over one million interactions with patients and families, while recording strong topline growth. The Company also welcomed three industry veterans to its leadership team: John Elms as Chief Product Officer; Wendy White as Chief Marketing Officer; and Jay DeGooyer as General Counsel.
Morgan Stanley & Co. LLC served as financial advisor to TigerConnect and Fenwick & West LLP served as legal counsel. J.P. Morgan Securities LLC served as financial advisor to Vista and Kirkland & Ellis LLP served as legal advisor.
About TigerConnect
TigerConnect transforms healthcare with the industry’s most widely adopted clinical collaboration platform – uniquely modernizing the way doctors, nurses, care teams, patients, and data connect. With solutions spanning care communication, patient engagement, scheduling, alarm notifications, nurse call, and more, TigerConnect accelerates productivity, reduces costs, and improves patient outcomes, safely and securely. Trusted by more than 7,000 healthcare organizations for user-friendly, yet enterprise-ready solutions, TigerConnect delivers 99.99% verifiable uptime for more than 10 million messages each day. To learn more about TigerConnect, visit www.tigerconnect.com.
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