M&A Deal Summary

Frazier Healthcare Partners Acquires RevSpring

On March 12, 2024, growth capital firm Frazier Healthcare Partners acquired information technology company RevSpring from GTCR

Acquisition Highlights
  • This is Frazier Healthcare Partners’ 4th transaction in the Information Technology sector.
  • This is Frazier Healthcare Partners’ 45th transaction in the United States.
  • This is Frazier Healthcare Partners’ 2nd transaction in Tennessee.

M&A Deal Summary
Date 2024-03-12
Target RevSpring
Sector Information Technology
Buyer(s) Frazier Healthcare Partners
Sellers(s) GTCR
Deal Type Secondary Buyout
Advisor(s) Morgan Stanley
Triple Tree LLC (Financial)
Kirkland & Ellis (Legal)

Target

RevSpring

Nashville, Tennessee, United States
RevSpring is a provider of multi-channel billing and communications solutions to the healthcare and financial services industries. The company helps customers accelerate revenue through an end-to-end platform of offerings that includes physical and electronic invoices, consumer payment portals, data cleansing solutions, and analytics tools that validate consumer identities and optimize engagement. It serves a diversified client base of approximately 2,000 health systems & hospitals, revenue cycle management providers, and financial services organizations. RevSpring was formed in 1997 and is based in Wixom, Michigan.

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Buyer(S) 1

Buyer

Frazier Healthcare Partners

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1991
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Frazier Healthcare Partners is a private equity and venture capital firm specializing in Growth buyout investment specifically targets businesses that deal Healthcare, Life Sciences, Pharmaceutical services, medical products, and related sectors. Frazier Healthcare Partners was formed in 1991 and is based in Seattle, Washington with an additional office in Palo Alto, California; Boston, Massachusetts; and Menlo Park, California.

DEAL STATS #
Overall 46 of 48
Sector (Information Technology) 4 of 4
Type (Secondary Buyout) 8 of 10
State (Tennessee) 2 of 2
Country (United States) 45 of 47
Year (2024) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-12 Alcresta Therapeutics

Newton, Massachusetts, United States

Alcresta Therapeutics is a specialty pharmaceutical company focusing on discovering and developing a new generation of enzyme-based products that improve digestion and absorption of important nutrients. The company's lead program is a point-of-care, enzyme-based product that improves the bioavailability of long-chain fatty acids (such as DHA, EPA, and AA) for patients with impaired pancreatic output. Compromised pancreatic function is a complication of many diseases such as cystic fibrosis, chronic pancreatitis, and cancer as well as developmental immaturity, and Alcresta's products are aimed at meeting the nutritional needs of these patients. Alcresta Therapeutics was formed in 2011 and is based in Newton, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-25 BioMatrix Specialty Pharmacy

Plantation, Florida, United States

BioMatrix Specialty Pharmacy offers a comprehensive pharmacy with a wide range of services across hemophilia, transplantation, specialty, and digital health technology solutions. BioMatrix Specialty Pharmacy is a provider for patients with blood disorders, organ transplants and other chronic and acute diseases and conditions. BioMatrix Specialty Pharmacy was founded in 2015 and is based in Plantation, Florida.

Buy -

Seller(S) 1

SELLER

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 84 of 84
Sector (Information Technology) 9 of 9
Type (Secondary Buyout) 21 of 21
State (Tennessee) 6 of 6
Country (United States) 81 of 81
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-16 Cloudbreak

Columbus, Ohio, United States

Cloudbreak is a video-focused language interpretation service provider that helps patients with limited English proficiency communicate with caregivers in healthcare settings. The Company's core offering is Martti (My Accessible Real-Time Trusted Interpreter), a HIPAA-compliant Video Remote Interpretation ("VRI") solution that connects patients with interpreters in over 250 languages across its network of more than 1,000 interpreters. Cloudbreak was founded in 2003 and is based in Columbus, Ohio.

Buy $180M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-25 AssetMark

Concord, California, United States

AssetMark is a provider of extensive wealth management and technology solutions that power independent financial advisers and their clients. AssetMark provides an end-to-end experience, spanning nearly all elements of an adviser’s engagement with his or her client from initial conversations to ongoing financial planning discussions, including performance reporting and billing. AssetMark is was incorporated in 1996 and is based in Concord, California.

Buy $2.7B
Mergr

Product

Company

Legal