TPG to acquire healthtech platform Nextech for $1.4bn

• The transaction is expected to close in the third quarter of 2023
• TripleTree, LLC, Guggenheim Securities LLC and UBS Investment Bank served as financial advisors to TPG
• TPG has $137 billion of assets under management

TPG has agreed to acquire Nextech, a provider of clinical and administrative healthcare technology solutions for specialty physician practices for $1.4 billion. The seller is Thomas H. Lee Partners.

“Our investment in Nextech builds on our thematic focus on healthcare IT solutions that enhance provider productivity and enable high-quality patient care across settings,” said TPG’s Katherine Wood and Art Heidrich in a statement. “Nextech’s SaaS and payment solutions are purpose-built for specialty providers and create meaningful workflow and efficiency benefits for its customers. We look forward to partnering with Bill and the Nextech team to expand the reach and impact of the platform.”

The transaction is expected to close in the third quarter of 2023.

TripleTree, LLC, Guggenheim Securities, LLC, and UBS Investment Bank served as financial advisors to TPG, and Ropes & Gray LLP served as legal counsel. William Blair served as lead financial advisor to Nextech and THL, and Raymond James and Jamieson served as financial advisors. Kirkland & Ellis served as legal counsel to Nextech and THL.

TPG has $137 billion of assets under management.

Since 1974, THL has raised more than $34 billion of equity capital.