TPG Capital to buy US healthcare technology company Mediware Information Systems

Private equity firm TPG Capital LP today struck a deal to buy US healthcare technology company Mediware Information Systems Inc from peer Thoma Bravo LLC.

TPG did not disclose the financial terms of the deal, but Thoma Bravo had acquired Nasdaq-listed Mediware in 2012 for about $195 million.

Founded in 1970, Mediware is a supplier of software as a service (SaaS) and other software platforms for healthcare and human services providers and payors across acute, non-acute and community-based sites of care.

Its portfolio of solutions currently includes human and social services, blood solutions, cellular therapy, homecare, medication management, rehabilitation, and respiratory therapy.

''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, president and CEO of Mediware.

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

TPG has earlier invested in a number of companies in the healthcare IT sector, including Evolent Health, IMS Health and Quintiles.

It also has a long history of investing in software companies, including vertical market leaders such as Advent Software, CCC Information Services, Eze Software, Intergraph, Marshall & Swift, Sabre, Transporeon and Vertafore as well as emerging SaaS companies such as Box, C3 IoT, Domo, Tanium and Zscaler.

Its healthcare investments include EnvisionRx, Beaver Visitec, Biomet, Fenwal and Immucor, Chindex, IASIS, Manipal Hospitals, Parkway and Surgical Care Affiliates, Adare, Aptalis and Par Pharmaceutical.

The transaction is expected to close during the first quarter of 2017.