ALPHARETTA, Ga., July 10,
2024 /PRNewswire/ -- Medicus IT ("Medicus" or
"the Company"), the leading healthcare-focused IT managed services
provider, today announced that it has received a significant
investment from FFL Partners ("FFL"), a private equity firm focused
on growth investments in Healthcare and Tech-Enabled Services
businesses. Financial terms of the transaction were not
disclosed.
Headquartered in Alpharetta,
GA, Medicus provides HIPAA-compliant, best-in-class managed
IT and cybersecurity services to more than 6,500 healthcare
providers with more than 50,000 end users. The Company has
approximately 300 employees serving outpatient provider and
community health center clients across 30+ states and 2,000+
locations.
"We are excited to partner with FFL during a time when
healthcare organizations face significant IT challenges," said
Chris Jann, Founder and CEO of
Medicus IT. "This partnership will accelerate our expansion and
enhance our mCare services platform, leveraging FFL's expertise to
drive growth and innovation. Most importantly, FFL's investment
will enable us to serve more healthcare providers, allowing them to
focus on what matters most – their patients."
"We are thrilled to partner with Medicus IT as it embarks on its
next stage of growth," said Jonathon
Bunt, Partner at FFL Partners. "Medicus IT's healthcare
expertise combined with their EMR/EHR-agnostic approach and
compelling cybersecurity capabilities have helped distinguish
Medicus IT as the leading Healthcare-focused MSP in the
market."
Medicus launched its next-generation, comprehensive managed
service offering known as mCare™ in 2022 to serve the IT,
cybersecurity and compliance needs of ambulatory outpatient care
and community health centers. The Healthcare IT market is expected
to grow at 15.8% annually from 2024 to 2030 according to Grand View
Research. Advances in healthcare technology, the move to the cloud
and increasing cybersecurity and compliance concerns are driving
healthcare providers to uplevel their IT operations.
Kirkland & Ellis, LLP served as legal counsel to FFL. Baird
served as the exclusive financial adviser and Whiteman Osterman & Hanna LLP as legal
counsel to Medicus IT. Medicus IT was previously backed by 424
Capital.
About Medicus IT
Medicus IT is committed to helping healthcare organizations
leverage technology to optimize patient care and deliver better
patient outcomes. Moving beyond traditional IT, Medicus helps its
healthcare clients run their IT infrastructure, grow their
operations, and transform their organizations. Headquartered in
Atlanta, Georgia, with service
centers in New Jersey,
Ohio, Florida, Arizona, and North
Carolina, Medicus is one of the nation's top Healthcare
Solutions Providers (HSP), serving more than 6,500+ providers, with
over 50,000+ users in over 2000+ locations.
Together, we drive healthcare forward™.
About FFL Partners
FFL Partners is a leading middle-market private equity firm that
has been investing in high-quality companies since 1997. Based in
San Francisco, FFL is a
hyperspecialized, thematic investor focused on targeted areas
within Healthcare and Tech-Enabled Services, two complementary
sectors in which the firm has deep expertise and broad networks.
FFL employs a proprietary sourcing and value creation strategy
called the Sector Exploration and Expertise Development ("SEED")
process. The firm aims to partner with exceptional management teams
and employs a high-engagement approach to accelerate growth at its
businesses. FFL currently has over $6
billion of cumulative capital commitments. For additional
information, please visit www.fflpartners.com
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SOURCE Medicus IT