Health Care

Investment firm acquires Lenexa-based health care software provider Mediware

AP

Mediware Information Systems Inc., a Lenexa-based health care technology company, has agreed to be acquired by a private equity firm that has investments in other health care companies.

TPG Capital LP is buying Mediware from another private equity firm, Thoma Bravo LLC.

Financial terms of the deal were not disclosed. The acquisition is expected to be completed during the first quarter of 2017, according to the announcement.

Mediware, which was founded in 1970, has headquarters at 11711 W. 79th St. It sells software programs that help with administration and costs savings to health care providers, including blood banks, behavioral health providers, and home health care providers. Mediware said it has more than 650 employees.

Thomas Bravo took Mediware private in 2012 for about $195 million and expanded it with several acquisitions including a May 2016 purchase of Bowman Systems, which focuses on software for homeless assistance management.

“In partnering with TPG, Mediware will have access to substantial expertise and resources that will help us continue to build on the momentum we have experienced over the past four years,” Thomas Mann, Mediware’s president and chief executive, said in the announcement.

TPG, which was founded in 1992, has more than $74 billion of assets under management. It has invested in other health care companies, including Quintiles, which has operations in the Kansas City area. It also has a track record of investing in software companies.

“Our experience in the health care industry...gives us a unique perspective into how technology can further transform health care,” said Jeffrey Rhodes, a partner at TPG.

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