Driven by the Affordable Care Act, medical professionals are taking on new technology to help manage finances and organize patient data, which has put software developers in play in the sector and driven M&A activity. “The dominant trend is the growing demand for next-generation business intelligence tools,” says Arvindh Kumar, Thoma Bravo principal. “Health care analytics companies are playing a critical role in bridging information gaps.”
The Chicago-based private equity firm recently closed a deal for MedeAnalytics Inc., and Kumar serves on the board of directors. Located in Emeryville, California, MedeAnalytics, provides cloud-based financial performance analytics for the health care industry. The company’s products are used by more than 1,500 health care organizations and are designed to improve cost management and patient outcomes. Thoma Bravo is also invested in Mediware Information Systems Inc., which provides medical software to health care facilities to manage information related to patient treatment, including prescribing medication.