M&A Deal Summary

Waystar Acquires eSolutions

On August 12, 2020, Waystar acquired internet software and services company eSolutions from Francisco Partners

Acquisition Highlights
  • This is Waystar’s 1st transaction in the Internet Software and Services sector.
  • This is Waystar’s 7th transaction in the United States.
  • This is Waystar’s 1st transaction in Kansas.

M&A Deal Summary
Date 2020-08-12
Target eSolutions
Sector Internet Software and Services
Buyer(s) Waystar
Sellers(s) Francisco Partners
Deal Type Add-on Acquisition
Advisor(s) William Blair
Triple Tree LLC (Financial)
Kirkland & Ellis (Legal)

Target

eSolutions

Olathe, Kansas, United States
eSolutions, Inc. is a provider of revenue cycle management software-as-a-service (“SaaS”). The Company’s products assist healthcare providers in automating and enhancing workflow with regard to claims review, editing, and denials/appeals management, as well as eligibility verification and payor connectivity. The Company’s client base is comprised of over 1,100 hospitals, home health and hospice providers, skilled nursing facilities, and durable medical equipment providers.

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Buyer(S) 1

Buyer

Waystar

Louisville, Kentucky, United States
Category Company
Sector Information Technology
Revenue 791M USD (2023)
DESCRIPTION
Waystar's corporate headquarters in Louisville, Kentucky.
Waystar's corporate headquarters in Louisville, Kentucky.

Waystar provides cloud-based technology that simplifies and unifies the healthcare revenue cycle. The Waystar platform removes friction in payment processes, streamlines workflows, and improves financials for providers in every care setting. Waystar is based in Louisville, Kentucky.

DEAL STATS #
Overall 7 of 9
Sector (Internet Software and Services) 1 of 2
Type (Add-on Acquisition) 5 of 6
State (Kansas) 1 of 1
Country (United States) 7 of 9
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-04 Recondo Technology

Greenwood Village, Colorado, United States

Recondo Technology, Inc. is a provider of innovative revenue cycle SaaS and proper payment solutions for the healthcare industry. Recondo Technology is based in Greenwood Village, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-15 Patientco

Atlanta, Georgia, United States

Patientco is a vertically integrated payment technology company that was founded specifically to rethink the patient payment experience in healthcare. The company provides greater connectivity, advanced analytics, and more so that health systems only need one patient payments partner and technology platform. It improves financial care across the entire patient journey, from pre-service to post-service, while increasing payments and revenue for today’s top health systems. Patientco was formed in 2008 and is based in Atlanta, Georgia.

Buy -

Seller(S) 1

SELLER

Francisco Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 45.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Francisco Partners' headquarters in San Francisco, California.
Francisco Partners' headquarters in San Francisco, California.

Francisco Partners is a private equity firm focused exclusively on investments in technology and technology-enabled services. Specific areas of interest include semiconductors, capital equipment, electronics components, systems and manufacturing, IT services and business process outsourcing, communications, security and enterprise applications, and infrastructure software. Prospective investment situations include divisional buyouts, growth equity financings, acquisitions of private companies, sponsored mergers and acquisitions, and take-privates. Francisco Partners looks for opportunities where it can commit a minimum of $100 million per investment. Francisco Partners was formed in 1999 and is based in San Francisco, California.

DEAL STATS #
Overall 63 of 81
Sector (Internet Software and Services) 6 of 8
Type (Add-on Acquisition) 40 of 49
State (Kansas) 1 of 1
Country (United States) 50 of 67
Year (2020) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-31 Consignor

Oslo, Norway

Consignor is a multi-carrier software platform for shippers enabling them to ship, track, scan, receive, return, and analyze shipments. The company supports large enterprise companies as well as small merchants, including startups, in their delivery management, making it easier, less time-consuming, and cheaper for them to deliver parcels to their customers. Consignor was formed in 1997 and is based in Oslo, Norway.

Buy Nkr1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-16 Sectigo

Scottsdale, Arizona, United States

Sectigo is a cybersecurity provider of digital identity solutions, including TLS/SSL certificates, DevOps, IoT, and enterprise-grade PKI management, as well as multi-layered web security. Sectigo partners with organizations of all sizes to deliver automated public and private PKI solutions for securing webservers, user access, connected devices, and applications. Sectigo was founded in 2017 and is based in Scottsdale, Arizona.

Sell -
Mergr

Product

Company

Legal