Transactions
January 9 2015
eSolutions Has Been Recapitalized By Francisco Partners
TripleTree Advises eSolutions in its Recapitalization by Francisco Partners MINNEAPOLIS – January 9, 2015 – TripleTree, LLC, a strategic advisor and merchant bank serving innovative and market-leading companies in healthcare, is pleased to announce that it advised eSolutions in its recapitalization by Francisco Partners. eSolutions is a leading provider of healthcare revenue cycle management solutions that uniquely address the needs of over 2,400 healthcare providers across the acute and post-acute care landscape. The agreement is expected to close in the first quarter of 2015, subject to customary regulatory approvals. “We are very excited to be associated with eSolutions and believe it is one of the more exciting and differentiated SaaS companies serving the provider markets today,” said Scott Tudor, Managing Director at TripleTree. “Despite already serving thousands of clients, eSolutions has a large greenfield opportunity in front of it to build a substantial analytics and payment enablement business across a broad and diverse continuum of providers.” “eSolutions has worked hard over the past 16 years to develop industry leading software that delivers meaningful and long standing value to our customers,” said Bill Creach, Chairman and founder of eSolutions. “We have accomplished so much since WestView’s investment and look forward to continuing on that path by partnering with Francisco Partners and believe that together we can enhance and accelerate the profound growth opportunity ahead of the Company.” “The FP team has significant experience working with high growth technology companies in the revenue cycle management and broader healthcare IT & outsourcing sectors,” said Gene Creach, CEO of eSolutions. “They understand the significance of the opportunity ahead of eSolutions and will be a great partner as we execute on our strategic vision. TripleTree did an outstanding job of developing numerous attractive options for our company, but in the end we felt like Francisco Partners was best aligned to help us accelerate our growth. ” “Bill and Gene Creach, and the entire eSolutions team, represent the very best in what we look for in a management team,” said Matt Carroll, General Partner at WestView Capital Partners. “Their passion and innovation have resulted in significant growth and value creation for our shareholders.” Francisco Partners is a leading global private equity firm focused exclusively on investments in technology and technology-enabled services businesses – with healthcare IT being the firm’s single most active investment sector over the past six years. FP seeks to partner with exceptional entrepreneurs and management teams in companies facing strategic or operational inflection points. “eSolutions delivers an unmatched value proposition across the entire acute and post-acute care continuum,” said Ezra Perlman, a partner at Francisco Partners. “The company is well positioned to address the significant challenges healthcare providers face, and we look forward to working with the eSolutions team to seize this opportunity.” TripleTree acted as the exclusive financial advisor to eSolutions and WestView Capital Partners for this transaction. About TripleTree TripleTree is an independent merchant bank focused on mergers and acquisitions, financial restructuring, and principal investing services. Since 1997, the firm has advised and invested in some of the most innovative, high-growth businesses in healthcare. For more, visit www.triple-tree.com About eSolutions eSolutions is a provider of revenue cycle management analytics and cloud-based workflow software. The Company’s products provide actionable intelligence and workflow automation across critical revenue cycle management processes, including claims & billing management, eligibility, denials & audit management, and advanced reporting & analytics. The Company also provides nationwide Medicare connectivity across all nine MACs. eSolutions’ customer base is comprised of over 2,400 organizations consisting of more than 13,000 hospitals, home health and hospice providers, skilled nursing facilities, durable medical equipment providers, and several other provider types. For more, please visit www.esolutionsinc.com. About WestView Capital Partners WestView Capital Partners, a Boston-based private equity firm focused exclusively on lower middle market growth companies, manages approximately $1 billion in capital across three funds. WestView partners with existing management teams to sponsor majority and minority recapitalizations, growth, and consolidation transactions in a wide range of industries, including business and technology services, software, healthcare, consumer/retail, and industrial/manufacturing. WestView invests in companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $50 million. For more, please visit www.wvcapital.com. About Francisco Partners Francisco Partners is a global private equity firm that specializes in investments in technology companies. Since its launch over a decade ago, FP has raised approximately $7 billion and invested in more than 100 technology companies, making it one of the most active investors in the industry. The firm invests in transaction values ranging from $50 million to over $2 billion, where the firm’s deep sub-sector knowledge and operational expertise can help a company realize its full potential. For more, please visit www.franciscopartners.com.
LEAD INVESTMENT BANKERS
TripleTree Advises eSolutions in its Recapitalization by Francisco Partners MINNEAPOLIS – January 9, 2015 – TripleTree, LLC, a strategic advisor and merchant bank serving innovative and market-leading companies in healthcare, is pleased to announce that it advised eSolutions in its recapitalization by Francisco Partners. eSolutions is a leading provider of healthcare revenue cycle management solutions that uniquely address the needs of over 2,400 healthcare providers across the acute and post-acute care landscape. The agreement is expected to close in the first quarter of 2015, subject to customary regulatory approvals. “We are very excited to be associated with eSolutions and believe it is one of the more exciting and differentiated SaaS companies serving the provider markets today,” said Scott Tudor, Managing Director at TripleTree. “Despite already serving thousands of clients, eSolutions has a large greenfield opportunity in front of it to build a substantial analytics and payment enablement business across a broad and diverse continuum of providers.” “eSolutions has worked hard over the past 16 years to develop industry leading software that delivers meaningful and long standing value to our customers,” said Bill Creach, Chairman and founder of eSolutions. “We have accomplished so much since WestView’s investment and look forward to continuing on that path by partnering with Francisco Partners and believe that together we can enhance and accelerate the profound growth opportunity ahead of the Company.” “The FP team has significant experience working with high growth technology companies in the revenue cycle management and broader healthcare IT & outsourcing sectors,” said Gene Creach, CEO of eSolutions. “They understand the significance of the opportunity ahead of eSolutions and will be a great partner as we execute on our strategic vision. TripleTree did an outstanding job of developing numerous attractive options for our company, but in the end we felt like Francisco Partners was best aligned to help us accelerate our growth. ” “Bill and Gene Creach, and the entire eSolutions team, represent the very best in what we look for in a management team,” said Matt Carroll, General Partner at WestView Capital Partners. “Their passion and innovation have resulted in significant growth and value creation for our shareholders.” Francisco Partners is a leading global private equity firm focused exclusively on investments in technology and technology-enabled services businesses – with healthcare IT being the firm’s single most active investment sector over the past six years. FP seeks to partner with exceptional entrepreneurs and management teams in companies facing strategic or operational inflection points. “eSolutions delivers an unmatched value proposition across the entire acute and post-acute care continuum,” said Ezra Perlman, a partner at Francisco Partners. “The company is well positioned to address the significant challenges healthcare providers face, and we look forward to working with the eSolutions team to seize this opportunity.” TripleTree acted as the exclusive financial advisor to eSolutions and WestView Capital Partners for this transaction. About TripleTree TripleTree is an independent merchant bank focused on mergers and acquisitions, financial restructuring, and principal investing services. Since 1997, the firm has advised and invested in some of the most innovative, high-growth businesses in healthcare. For more, visit www.triple-tree.com About eSolutions eSolutions is a provider of revenue cycle management analytics and cloud-based workflow software. The Company’s products provide actionable intelligence and workflow automation across critical revenue cycle management processes, including claims & billing management, eligibility, denials & audit management, and advanced reporting & analytics. The Company also provides nationwide Medicare connectivity across all nine MACs. eSolutions’ customer base is comprised of over 2,400 organizations consisting of more than 13,000 hospitals, home health and hospice providers, skilled nursing facilities, durable medical equipment providers, and several other provider types. For more, please visit www.esolutionsinc.com. About WestView Capital Partners WestView Capital Partners, a Boston-based private equity firm focused exclusively on lower middle market growth companies, manages approximately $1 billion in capital across three funds. WestView partners with existing management teams to sponsor majority and minority recapitalizations, growth, and consolidation transactions in a wide range of industries, including business and technology services, software, healthcare, consumer/retail, and industrial/manufacturing. WestView invests in companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $50 million. For more, please visit www.wvcapital.com. About Francisco Partners Francisco Partners is a global private equity firm that specializes in investments in technology companies. Since its launch over a decade ago, FP has raised approximately $7 billion and invested in more than 100 technology companies, making it one of the most active investors in the industry. The firm invests in transaction values ranging from $50 million to over $2 billion, where the firm’s deep sub-sector knowledge and operational expertise can help a company realize its full potential. For more, please visit www.franciscopartners.com.
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