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M&A Deal Summary

HgCapital Acquires Rhapsody & Population Health Businesses

On July 3, 2018, private equity firm HgCapital acquired software company Rhapsody & Population Health Businesses from Orion Health Group for 255M USD

Acquisition Highlights
  • This is HgCapital’s 27th transaction in the Software sector.
  • This is HgCapital’s 16th largest (disclosed) transaction.
  • This is HgCapital’s 1st transaction in New Zealand.
Investment Fate
  • Rhapsody & Population Health Businesses merged with another company in 2020.

M&A Deal Summary
Date 2018-07-03
Target Rhapsody & Population Health Businesses
Sector Software
Buyer(s) HgCapital
Sellers(s) Orion Health Group
Deal Type Divestiture
Deal Value 255M USD

Target

Rhapsody & Population Health Businesses

Auckland, New Zealand
Rhapsody & Population Health Businesses business comprising Orion Health’s Rhapsody and Symphonia software products designed to integrate systems through the acquisition and exchange of data. Rhapsody & Population Health Businesses is based in Auckland, New Zealand.

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Buyer(S) 1

Buyer

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.

DEAL STATS #
Overall 103 of 152
Sector (Software) 27 of 48
Type (Divestiture) 9 of 10
Country (New Zealand) 1 of 1
Year (2018) 7 of 11
Size (of disclosed) 16 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-14 itm8

Herning, Denmark

itm8 is a provider of IT outsourcing focused at smaller businesses. itm8 provides services which allow SMEs to move their IT infrastructure and operations into the cloud, as well as providing end user support and consulting as part of a full-service IT offering. itm8 was founded in 2003 and is based in Herning, Denmark.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-06 Raet

Amersfoort, Netherlands

Raet is a provider of HR cloud software and services. The company provides a cloud-based, integrated HR software suite covering the Human Capital Management needs of both large and small businesses globally. Raet was founded in 1965 and is based in Amersfoort, Netherlands.

Sell -

Seller(S) 1

SELLER

Orion Health Group

Auckland, New Zealand
Category Company
Founded 1993
Sector Information Technology
Revenue 170M NZD (2018)
DESCRIPTION

Orion Health Group Ltd. is a health technology company that provides solutions which enable healthcare to over 110 million patients globally. Its open technology platform, Orion Health Amadeus, seamlessly integrates all forms of relevant data to enable population and personalised healthcare around the world. The company is committed to continual innovation to cement its position at the forefront of precision medicine.

DEAL STATS #
Overall 1 of 1
Sector (Software) 1 of 1
Type (Divestiture) 1 of 1
Country (New Zealand) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
Mergr

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