Vesey Street Capital Partners has recapitalized QualityMetric, a provider of patient reported outcomes and clinical outcomes assessments products, scientific consulting and translation services. No financial terms were disclosed.
NEW YORK, Nov. 12, 2020 /PRNewswire/ — Vesey Street Capital Partners, LLC (“VSCP”), a New York-based healthcare services private equity firm, announced that funds managed by VSCP have completed a recapitalization of QualityMetric (“QM” or the “Company”), an industry-leading provider of tools and technology that measure health from the patient’s point of view. QualityMetric works with the world’s leading healthcare and life sciences companies to measure and better understand outcomes through the creation, administration, and review of general and patient-specific health surveys. Founded in 1997, QM combines its proprietary scientifically-validated general health and disease specific surveys with its enabling technology, advanced analytics, and sector expertise to work with all the world’s largest healthcare and life sciences companies in clinical trials, patient surveillance, and value-based care. Terms of the transaction were not disclosed.
“Vesey Street Capital Partners is both excited and honored to be partnering with Gus Gardner and the management team at QualityMetric to help support and enable its next phase of growth,” said Adam Feinstein, Managing Partner of VSCP. Added Larry Marsh, General Partner of VSCP, “We’re thrilled to explore the opportunities of expanding the company’s tools, technology, and services to embrace and enhance the patient voice both in life sciences and in the expanding world of value-based care. The solutions set provided by this company with its long history of survey development, its experienced and well-respected leadership, its commitment to rigorous and clinically-based, scientifically validated products and services, and its talented team we believe will continue to allow for growth in the future.”
VSCP and affiliates contributed the equity for the transaction. First Eagle Alternative Credit, LLC and Morgan Stanley Credit Partners provided debt financing to support the transaction and Kirkland & Ellis served as legal counsel to VSCP.
QualityMetric works with the world’s leading healthcare and life sciences companies to measure and better understand outcomes through the creation, administration, and review of general and patient-specific health surveys. Founded in 1997, QM combines its proprietary scientifically validated general health and disease specific surveys with its enabling technology, advanced analytics, and sector expertise to work with all the world’s largest pharmaceutical companies in clinical trials and patient surveillance.
ABOUT VESEY STREET CAPITAL PARTNERS
VSCP is a private equity firm with substantial and differentiated healthcare services sector and sourcing expertise. Specifically, we specialize in middle market buyouts, with a focus on businesses with strong cash flow characteristics that create value for hospitals, physicians, pharmaceutical/life sciences companies, and health insurers by enhancing efficiency, expanding productivity, reducing costs, and growing revenues. Since inception, the firm has deployed approximately $600 million in capital, primarily as a control investor. For more information, please visit www.vscpllc.com.