Financial commitment team to acquire Birmingham health tech corporation for $1.2 billion

International financial investment firm KKR will receive a the vast majority curiosity in Birmingham-based mostly Treatment Brands.

Even though money terms were being not disclosed, Bloomberg is reporting the offer totals $1.2 billion.

Founded in 2013, Remedy Brand names is a observe management and digital health and fitness document computer software system for health care suppliers. Its products and solutions are employed by much more than 28,000 practices across the U.S., ranging from personal suppliers to nationwide multi-place practice teams. The firm employs additional than 500 persons nationally.

KKR, based mostly in New York, is obtaining the company from investment decision resources affiliated with Lightyear Capital LLC, Oak HC/FT and Greater Sum Ventures. Present trader PSG will participate in the transaction alongside KKR and carry on as a minority shareholder.

Treatment Brand names CEO Kimberly O’Loughlin stated the offer will accelerate the company’s mission.

“Provider and client pleasant technology-enabled remedies are more significant than at any time as the need for psychological and behavioral wellbeing services carries on to fast raise,” Remedy Manufacturers CEO Kimberly O’Loughlin said. “We are fired up to welcome KKR as our new trader, which provides a deep knowing of the healthcare sector and in depth knowledge in scaling technologies-enabled platforms.”