| [June 11, 2012] |
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TPG Growth Acquires iMDsoft
NEEDHAM, Mass. --(Business Wire)--
iMDsoft, a worldwide leader in high acuity clinical information systems,
today announced it has been acquired by TPG Growth, the middle market
and growth equity investment platform of TPG, the global private
investment firm. Financial terms of the transaction were not disclosed.
iMDsoft was founded in 1996 by Ms Phyllis Gotlib and Dr Ido Schoenberg.
The Company's flagship product, the MetaVision Suite, is a market
leading solution designed to automate hospitals' high-acuity clinical
workflow. Over 230 hospitals in 25 countries have chosen the MetaVision
Suite, including 4 of the top 10 hospitals in the US and 13 of the top
50 hospitals in Europe. Using MetaVision, customers have significantly
improved care quality and patient safety, enhanced financial performance
and increased compliance with complex clinical and administrative
protocols.
"We are excited to be joining forces with iMDsoft," said Matthew Hobart,
Managing Director of TPG Growth. "The market for software systems
designed to manage and coordinate care for acutely ill patients is
growing rapidly. iMDsoft has succeeded in developing, marketing and
deploying innovative technologies to some of the most demanding
healthcare customers in the world. Recent implementations across
state-wide health networks in North America, Australia and Europe
demonstrate the pervasive need for the Company's products."
Phyllis Gotlib, CEO of iMDsoft said, "TPG's investment in our company is
animportant stamp of approval of what the iMDsoft family has
accomplished and we are thrilled to partner with them. We believe that
TPG Growth's assets, access to top tier talent and management expertise
will enable us to execute on our ambitious growth strategy, continue our
trajectory of technological innovation and support our growing worldwide
customer base. Exploding healthcare costs have become a global crisis,
and our MetaVision Suite, as well as our series of new products
currently under development, can help health systems, hospital networks
and governments reduce their cost of care while simultaneously improving
clinical outcomes. Together with TPG Growth, we are well positioned to
continue our mission on a larger scale."
About iMDsoft
iMDsoft is a leading provider of proven clinical information systems
worldwide. The Company's products are designed to enhance quality of
care for critically ill patients and improve financial performance for
healthcare providers. Hospitals, healthcare systems, and major medical
centers across North America, Europe, Asia and Australia are using
iMDsoft's innovative technology to promote patient safety, contain
costs, support research and compliance, and achieve sustainable market
leadership. The award-winning, patented MetaVision Suite was first
implemented in 1999. The system uses a single platform to automate
workflows in a variety of high-acuity environments, including intensive
care, pre-op, operating room, post-op, step-down units, and general
in-patient beds. To learn more about iMDsoft visit www.imd-soft.com.
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of
TPG, the global private investment firm. With $3.0 billion under
management, TPG Growth targets investments in a broad range of
industries and geographies, utilizing leveraged buyout, growth equity,
and private investment in public equity (PIPE) structures. TPG and its
affiliates have significant healthcare experience with investments in
Aptalis Pharma, Healthscope, Biomet, Fenwal, IASIS Healthcare, IMS
Health, Oxford Health Plans, Parkway Holdings, Quintiles Transnational,
ShangPharma and Surgical Care Affiliates, among others. The firm is
backed by the resources of TPG with $51.5 billion of assets under
management. TPG Growth has offices in the United States, China and
India. Please visit www.tpggrowth.com
for more information.

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