TPG has closed its previously announced buy of Lenexa, Kansas-based Mediware Information Systems Inc, a provider of software for healthcare and human services providers. The seller was Thoma Bravo. No financial terms were disclosed.
LENEXA, Kan., FORT WORTH, Texas & SAN FRANCISCO–(BUSINESS WIRE)–Today, TPG Capital, the global private equity platform of alternative asset firm TPG, finalized its agreement to acquire Mediware Information Systems, Inc. (“Mediware” or “Company”) from private equity firm Thoma Bravo. Terms of the transaction were not disclosed.
Mediware is a leading supplier of software as a service (“SaaS”) and other software platforms for healthcare and human services providers and payers across acute, non-acute, and community-based sites of care. Primary product categories include non-acute care, human and social services, blood management, and medication management, making the company a strong addition to TPG’s diverse portfolio, which includes a number of companies in the healthcare IT sector, such as Evolent Health and QuintilesIMS.
“Through our partnership with TPG, Mediware now has access to substantial expertise and resources, and we are looking forward to building on the progress we’ve made over the past four years,” said Mediware’s President and Chief Executive Officer Thomas Mann.
Jeffrey Rhodes, Partner at TPG, added: “We see significant potential with Mediware, given its leading position in a rapidly evolving industry. We are committed to working with the team to capitalize on exciting growth opportunities.”
“We look forward to supporting Mediware with investments in both organic and inorganic growth. These investments will help us build the market-leading non-acute care and human services software platform,” commented Nehal Raj, Partner at TPG.
Since 1980, Mediware has provided software solutions to healthcare providers and has since expanded to serve many state and federal agencies. Mediware’s solutions are perfect for high-growth, complex patient care environments that remain underserved by existing vendors. The company employs more than 650 subject matter experts who deeply understand business and care processes in highly specialized acute, non-acute, and community-based care settings and have years of experience integrating systems. Mediware’s portfolio of solutions currently includes human and social services, blood, cellular therapy, home care, medication management, rehabilitation, and respiratory therapy. For more information about Mediware products and services, visit www.mediware.com.
TPG is a leading global alternative asset firm founded in 1992 with more than $74 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, Istanbul, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, São Paulo, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit http://www.tpg.com/.