Private equity fund buys Mediware Information Systems

Mediware Information Systems has entered an agreement to be acquired by TPG Capital, the global private equity fund of TPG.

Mediware is being acquired from Thoma Bravo, with the transaction expected to close in the first three months of 2017, subject to customary conditions for closing the deal. Thoma Bravo had purchased Mediware in September 2012.

Neither Thoma Bravo or TPG Capital released terms of the transaction. TPG reports that it has more than $74 billion of assets under management and operates offices around the world.

Mediware supplies software as a service and other for software platforms for healthcare and human services providers and payers, with customers that include acute, non-acute and community-based sites of care. Its products include non-acute care, human and social services, blood management and medication management.

“We are excited about the new partnership and believe that the common vision we share with the TPG team will significantly help advance Mediware’s market position and bolster the company’s long-term growth,” said Thomas Mann, Mediware’s president and CEO. “In partnering with TPG, Mediware will have access to substantial expertise and resources that will help us continue to build on the momentum we have experienced over the past four years. We expect a seamless transition process and look forward to working with TPG.”

“Our software investment strategy has been focused on backing strong vertical market leaders in growing industries, and we see a tremendous opportunity within healthcare IT as patient volumes move outside the four walls of a hospital,” said Nehal Raj, a partner at TPG. That movement in treating patients will necessitate investment in applications to automate clinical and administrative functions in non-acute care settings.

TPG has invested in several healthcare IT companies, including Evolent Health, IMS Health and Quintiles, as well as a long history of investing in software companies.

Mediware has been in operation since the 1970s. Its solutions include human and social services, blood solutions, cellular therapy, homecare, medication management, rehabilitation and respiratory therapy.

Earlier this year, Mediware Information Systems, Inc. Mediware acquired Bowman Systems, a provider of software solutions for human services. More than 30,000 people across 48 states and one Canadian province use Bowman Solutions software for housing related programs, information and referral services and rescue missions.

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