GI Partners and TA Associates to acquire Allscripts’ stake in Netsmart

Dec. 11, 2018

GI Partners, a private equity firm, together with TA Associates announced that it has signed a definitive agreement to acquire the stake held in Netsmart Technologies by Allscripts Healthcare Solutions. This transaction represents an additional investment for GI Partners over its initial stake acquired in April 2016, and results in majority ownership of Netsmart by GI Partners. This transaction will further build out Netsmart as a provider of human services and post-acute technology in healthcare.

Founded in 1968, Netsmart is a provider of software and technology solutions designed especially for the health and human services and post-acute sectors, enabling mission-critical clinical and business processes including electronic health records, population health, billing, analytics, and health information exchange. Since GI Partners’ investment in 2016, Netsmart has experienced growth through product innovation and multiple strategic acquisitions. During this time, Netsmart launched myUnity, a multi-tenant SaaS platform serving the entire post-acute care continuum and completed strategic acquisitions in human services and post-acute care technology. Over the same period, Netsmart has added 150,000 users and over 5,000 organizations to its platform.

The transaction is subject to customary closing conditions and is expected to be completed in December 2018.

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