TA Associates And GI Partners Invest In Netsmart

TA Associates and GI Partners invest in Netsmart.

TA Associates and GI Partners inked a definitive accord to buy Allscripts’ shares in Netsmart. The joint investor group will own 80 percent of Netsmart shares, with Netsmart leaders and associates owning the other 20 percent. This agreement extends Netsmart's lead in delivering human services and post-acute technology.

As part of the deal, GI Partners and TA Associates have aligned finance plans and scope to give Netsmart a cohesive partnership. This decisive investment vitalizes a Netsmart strategy of constant research and development. Expanding potentiality to meet the needs of behavioral health, addiction management, public health, social services, home care, hospice, and senior living communities.

Since GI Partners' original investment in 2016, Netsmart has burst forth with product innovations and a legion of strategic acquisitions. During this time Netsmart launched myUnity, a multi-tenant SaaS platform serving the entire post-acute care continuum, and capably completed decisive buys in human services and post-acute care technology. Over the same period, Netsmart added 150,000 users and 5,000 alliances to its platform.

Mark H Carter of TA Associates said: 'We are excited to partner with the leading healthcare technology provider serving these growing and important end markets. Netsmart’s compelling attributes include a high-quality business model, a large and diversified customer base and software solutions that we believe are mission critical. We welcome the opportunity to work with Netsmart CEO Mike Valentine, whom we have known for years, and with the investment professionals at GI Partners.'

Dave Kreter of GI Partners said: 'We thank Allscripts for their partnership and look forward to the next chapter of growth with our new partners TA Associates. We are excited to support management as they continue down the path of making Netsmart the largest HCIT provider outside of the hospital walls.'

Howard Park of GI Partners said: 'We continue to strongly believe Netsmart is an attractive business that aligns with our focus on healthcare, IT infrastructure, and software. We are excited to work with the company and TA to focus on the next phase of growth for the business.'
   
Mike Valentine of Netsmart said: 'Since our founding, Netsmart has sought partners who share our commitment to excellence and quality healthcare outcomes. TA Associates brings decades of experience investing in the healthcare industry and supporting efficiency, quality care, and cost containment. Along with the team at GI, I am delighted to welcome TA as an investor and look forward to a close collaboration in continuing the evolution of Netsmart. With this new investor group, we will continue to work independently and be backed by investors that have tremendous access to capital to support our growth needs into this next decade. We are excited that this working history will let us not miss a beat in executing the long-term vision for Netsmart and our clients. The confidence that GI Partners and TA Associates have shown is a testament to the leadership that Netsmart has demonstrated with the communities we serve. Our next chapter will bring even more innovations and new solutions that give our clients broader capabilities to tackle changing regulatory requirements and value-based care models.'

Hythem T. El-Nazer of TA Associates added: 'Increasingly complex clinical, billing, and regulatory requirements, and the need to measure and report patient outcomes, are accelerating the adoption of Netsmart’s software solutions. Also, as the HHS and post-acute industries continue to merge and expand, the need for technology solutions to coordinate care and drive efficiency will grow. As the leader addressing the unique and complex billing needs of customers spanning the continuum of care, we believe that Netsmart is well positioned for continued growth.'