Francisco Partners Makes Strategic Investment in Nextech
Press Releases — Oct 08, 2013
Francisco Partners, a leading technology-focused private equity firm, today announced a strategic investment in Nextech, a leading provider of fully integrated electronic medical records (“EMR”), practice management, and marketing software solutions for specialty physician practices. Closing is subject to customary conditions, including Hart-Scott-Rodino clearance.
“Nextech is highly respected in the healthcare industry for its fully integrated offering, specialty focus, and leading-edge technology combined with 17 years of experience and strong customer service,” said Ezra Perlman, a partner at Francisco Partners. “Nextech’s products are among the most trusted within its specialty focus areas, and we look forward to supporting the company in its continued growth.”
Based in Tampa, Fla., Nextech was founded to develop a completely integrated EMR, practice management and marketing software offering for specialty physicians. The company’s unique focus on developing and supporting specialty-specific products fueled significant growth in these markets.
This new partnership between Nextech and Francisco Partners is designed to enhance and support Nextech’s infrastructure and growth in medical specialties, including: bariatric surgery, dermatology, gastroenterology, ophthalmology, orthopedic surgery, otolaryngology, plastic surgery, general surgery centers and urology.
“We founded the company to offer physicians the highest standard of excellence for their practice management and EMR needs,” said Kamal Majeed, PhD, founder and chief executive officer at Nextech. “Our focus and culture from day one has been the customer. If you develop feature-rich products centered on your customers’ needs and provide best-in-class support and training for those products, then you’ve delivered value and earned customer loyalty. Francisco Partners’ deep technology expertise, impressive track record in healthcare technology, and long tradition of successfully partnering with founders will enable us to accelerate our growth, innovate and ultimately better realize our mission to support physicians.”
Nextech was advised by Raymond James and Holland & Knight LLP. Shearman & Sterling LLP acted as legal advisor to Francisco Partners. Financial terms of the transaction were not disclosed.
Nextech was founded to initially support plastic surgery but has since evolved to support many other medical specialties, including: bariatric surgery, dermatology, gastroenterology, ophthalmology, orthopedic surgery, otolaryngology, general surgery centers and urology. The company’s unique focus on developing and supporting specialty-specific products fueled significant growth in these markets. Since its inception in 1997, Nextech has built a client base of more than 7,000 providers and 40,000 office staff members.