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TA Associates, Francisco Partners Invest In Edifecs

Private equity firms TA Associates and Francisco Partners are investing in Edifecs, Inc., a global health information technology solutions company.

“TA is excited to invest in Edifecs, which has established an enviable position in the healthcare industry with its innovative and flexible technology solutions,” said Ashutosh Agrawal, a managing director at TA Associates who will join the Edifecs Board of Directors. “As stakeholders in the U.S. healthcare market shift from fee-for-service models to value-based care arrangements, the interoperability of healthcare data that Edifecs enables will become increasingly vital. We believe that Edifecs is well-positioned to capitalize on this trend, and we look forward to partnering with Sunny, the Edifecs team and Francisco Partners as Edifecs enters its next phase of growth.”

“As an innovator in the healthcare technology space, with a leadership position in many of the segments in which it operates, as well as its long track record of profitable growth, Edifecs is a perfect investment fit for Francisco Partners,” said Ezra Perlman, co-president of Francisco Partners who will join the Edifecs Board of Directors. “We are thrilled to partner with Edifecs and TA, and we look forward to adding value as Edifecs continues to expand its product offerings to better serve the evolving needs of its customers.”

In addition to Agrawal and Perlman, Jennifer Mulloy, a managing director at TA Associates, and Ali Evans, a vice president at Francisco Partners, will join the Edifecs Board of Directors.

DLA Piper and Karr Tuttle Campbell provided legal counsel and TripleTree served as financial advisor to Edifecs. Kirkland & Ellis provided legal counsel and Deutsche Bank served as financial advisor to TA Associates and Francisco Partners. Financial terms of the transaction, which is expected to close in the third quarter of 2020, were not disclosed.

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