Private Equity: Healthcare Firm Edifecs Lands PE Deal
Private equity firms TA Associates and Francsico Partners announced that they will complete a deal with healthcare software company Edifecs. CEO of Edifecs Sunny Singh intends to lead the company through a transformation.
The healthcare industry is quickly changing with the help of the technology sector. According to Singh, “Today’s healthcare industry is in a transformation, and technology companies play a key role in helping the industry navigate this change at an accelerated pace…The investment from TA Associates and Francisco Partners will help Edifecs catalyze this transformation, innovate faster and bring technology to market quicker to meet the demands of our customers.”
As a part of the transformation, Edifecs will add Ashutosh Agarwal, Ezra Perlman, and Ali Evans to the board. Agarwal, Perlman, and Evans serve as managing director of TA Associates, co-president of Francisco Partners, and vice president of Francisco Partners — respectively. Edifecs plays a part in the shift from fee-for-service models to value-based care arrangements in the healthcare industry. The board members will be in charge of overseeing Edifecs’ role in this transition.
Edifecs is a software healthcare maker based in Bellevue, Washington. It was founded 24 years ago where it began providing technology solutions for integration problems. Edifecs entered the healthcare industry in 2001. Edifecs shifted to assisting customers with information processing and now sells enterprise software. Some of the company’s clients include BlueCross BlueShield, Cigna, Humana, and GroupHealth. The company also plays a part in analyzing and producing COVID-19 testing claims data.
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