BlackRock Long Term Private Capital has acquired a majority interest in Transaction Data Systems, a provider of pharmacy software services. TDS’ previous owner, GTCR, will retain a minority interest. LTPC will partner with the TDS management team, led by CEO Jude Dieterman, and GTCR to drive the company’s next phase of growth.
Jude Dieterman, CEO of Transaction Data Systems, commented, “BlackRock LTPC’s investment in TDS is a testament to our ability to support and deliver for our pharmacy customers and their evolving needs. We look forward to working with the LTPC team to advance our strategic growth objectives and reach more partners across the healthcare ecosystem. We’d like to thank GTCR for their commitment and support in transforming TDS over the past several years.”
Sean Cunningham, managing director at GTCR, commented, “GTCR is proud to have supported TDS’ remarkable transformation and growth over the last few years. TDS has solidified its position as an industry leader in the pharmacy technology space, and we look forward to partnering with BlackRock LTPC and continuing to support Jude and the team during the company’s next phase of growth.”
Colm Lanigan, Head of LTPC, Americas, commented, “The pharmacy is the critical first-line of care and Transaction Data Systems has established itself as a leading solution that pharmacists rely upon to serve patients, providers and payors in this important ecosystem. We are excited to partner with Jude Dieterman and his team alongside GTCR to continue the company’s strong growth momentum.”
Keval Health served as financial advisor, and Simpson Thacher & Bartlett served as legal advisor to BlackRock LTPC. Harris Williams and William Blair served as financial advisors, and Kirkland and Ellis served as legal advisor to TDS. Stifel served as financial advisor to GTCR.