The private equity firm is partnering with investment bank William Blair on the sale process for the US-based healthcare technology solution company and has drawn interest from other private equity firms
Private equity firm Thomas H. Lee Partners (THL Partners) is reportedly considering divesting US-based healthcare technology solution firm Nextech Systems that could value the latter at nearly $1.5bn.
The private equity firm is partnering with investment bank William Blair on the sale process for Nextech Systems, reported Reuters citing sources with knowledge of the matter.
According to the news agency, the sale process for the healthcare technology firm has drawn interest from other private equity firms and is at an advanced stage.
THL Partners is expected to keep a minority stake in any deal, said Reuters.
Besides, the news agency reported that Nextech Systems generates approximately $100m in annual revenue and nearly $50m in 12-month earnings before taxes, interest, depreciation and amortisation.
Headquartered in Tampa, Florida, Nextech Systems offers intelligent, intuitive and integrated solutions to support speciality physicians to optimise efficiency, maximise charting accuracy and enhance overall practice profitability.
Nextech Systems delivers ONC-certified electronic medical records (EMR/EHR), practice management, revenue management as well as patient engagement software and services.
Its electronic medical record and practice management software is fully integrated to enhance workflow efficiencies, manage practice revenue trends, improve patient engagement and boost productivity through innovative mobile platforms.
The firm claims to provide services to over 16,000 providers and 5,500 practices in the clinical specialities of ophthalmology, plastic surgery, dermatology and orthopaedics.
The funds affiliated with THL Partners acquired Nextech Systems from private equity firm Francisco Partners and its other stockholders for an undisclosed price in June 2019.