Nextech Systems, a Tampa, Florida-based provider of healthcare technology solutions for specialty physician practices, received an investment from funds affiliated with Thomas H. Lee Partners, L.P., a premier private equity firm investing in middle-market growth companies.
Francisco Partners and other stockholders exited the compeny in the deal, whose terms and conditions were not disclosed.
THL will now support Nextech’s growth by contributing operational and financial resources and strategic expertise as the company further enhances its cloud platform and pursues strategic M&A opportunities. Nextech will retain its corporate headquarters in Tampa, and will continue to be led by CEO Mike Scarbrough.
The company intends to use the funds to accelerate continued growth, innovation, and product leadership among technology providers to specialty healthcare practices.
Founded in 1997, Nextech provides healthcare information technology software solutions which include a cloud platform, practice management and electronic medical record workflow and integrated patient engagement and revenue cycle management software to streamline back-end processes and enhance optimization for providers and practices.
The company services more than 4,000 practices, over 11,0000 providers and over 50,000 office staff members in the clinical specialties of Dermatology, Ophthalmology, Orthopedics and Plastic Surgery.