TAMPA, Fla. & BOSTON--(BUSINESS WIRE)--Nextech Systems (the “Company” or “Nextech”), a leading provider of healthcare technology solutions for specialty physician practices, today announced that funds affiliated with Thomas H. Lee Partners, L.P. (“THL”), a premier private equity firm investing in middle-market growth companies, have acquired Nextech from Francisco Partners and its other stockholders. Terms and conditions for the transaction were not disclosed.
Founded in 1997 and headquartered in Tampa, Florida, Nextech is a complete healthcare technology solution for over 11,000 providers and 4,000 practices across a variety of core specialties. By leveraging the Company’s innovative, intuitive HCIT software solutions, including its purpose-built cloud platform, best-in-class practice management and electronic medical record workflow and integrated patient engagement and revenue cycle management software, Nextech streamlines back-end processes and enhances optimization for its providers and practices - thereby driving higher patient volumes, increased customer satisfaction, and improved efficiency.
Building on the Company’s proven track record of growth, market leadership, and innovation, THL will support Nextech’s continued success by contributing operational and financial resources and strategic expertise as the Company further enhances its cloud platform and pursues strategic M&A opportunities. Nextech will retain its corporate headquarters in Tampa, Florida, and will continue to be led by its Chief Executive Officer, Mike Scarbrough and the other members of its senior management team.
“We are thrilled to partner with THL, whose proven track record with software platforms, operational expertise, and keen eye for acquisition opportunities will accelerate our continued growth, innovation, and product leadership among technology providers to specialty healthcare practices,” said Mike Scarbrough, CEO of Nextech. “We believe this strategic partnership with THL will serve as a vehicle to drive us forward in our next chapter of growth and continued success.”