Leading private equity firm seeks to fuel Experity’s continued growth and success as the trusted partner and operating system for urgent care
March 1, 2022 – Experity, the national leader in on-demand care solutions, today announced a strategic growth investment from GTCR, a leading private equity firm with significant experience in healthcare technology and services. Existing investor Warburg Pincus will retain a minority interest in the company.
“Experity’s vision has always been to partner with urgent care operators and give them the right tools to focus on what matters most, the patient. This is Experity’s second growth investment partner, and to me, this signals the importance of on-demand care and fueling the patient-centered healthcare revolution,” said David Stern, CEO of Experity. “This investment from GTCR is a major milestone in Experity’s journey – giving us the resources that we need to continue operating as the trusted business advisor to our industry and clients.”
GTCR and Experity plan to continue to invest in the company’s differentiated software offering, and partner with Experity’s experienced team to drive innovation and deepen utilization of the platform, particularly as customer needs for such tools continue to grow behind expanding patient volumes. Over the past three years, with the support of Warburg Pincus, Experity has earned its role as urgent care’s most trusted business partner and has grown to become the primary operating system that powers the U.S. urgent care market.
“We are proud to partner with Experity, the clear market leader in SaaS software solutions and technology-enabled services for the attractive urgent care industry,” said Sean Cunningham, Managing Director at GTCR. “We plan to support Experity with additional capital for both organic growth initiatives and strategic acquisitions which will continue to position the business for long-term growth. Experity has delivered incredible value to the urgent care sector through the development of innovative and value-additive solutions, and we look forward to further enabling better access to care for all individuals and communities nationwide.”
“We are excited to have the combined capability of two world-class investors to provide industry-leading innovation and investment to help Experity amplify its position as the industry leader they are today,” said Vishnu Menon, Managing Director, Warburg Pincus. “With the support of GTCR, we believe Experity is well-positioned to continue advancing the future of on-demand and urgent care services,” added Andrew Park, Managing Director, Warburg Pincus. “By purchasing Experity, urgent care’s operating system, GTCR is investing in the company’s continued growth, which in turn, is an investment in the future of urgent care,” added Michael Ding, Principal, Warburg Pincus.
William Blair served as lead financial advisor, and Kirkland & Ellis served as legal advisor for Experity. Jefferies served as financial advisor and Latham & Watkins served as legal advisor to GTCR.
Experity is the leading software and services company for on-demand healthcare in the U.S. urgent care market, providing an integrated operating system complete with electronic medical record, practice management, patient engagement, billing, teleradiology, business intelligence and consulting solutions. Nearly 50% of the U.S. urgent care market runs on Experity solutions. With Experity, providers can best meet the demands of the evolving on-demand space and deliver high-quality, high-velocity care by streamlining operations, improving patient experiences and optimizing revenue. A GTCR portfolio company, Experity’s leadership is comprised of growth-minded urgent care experts and business leaders committed to improving on-demand healthcare for all. For information and resources, visit experityhealth.com.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Growth Business Services, Healthcare and Financial Services & Technology, Technology, Media & Telecommunications. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $20 billion in over 250 companies. For more information, please visit www.gtcr.com. Follow us on LinkedIn.
About Warburg Pincus
Warburg Pincus LLC is a leading global growth investor. The firm has more than $73 billion in assets under management. The firm’s active portfolio of more than 235 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value and is a leading investor in healthcare and technology. Healthcare and healthcare IT investments include, Aetion, Alignment Healthcare, GHX, Intelligent Medical Objects, Modernizing Medicine, Outset Medical, Phil, Qualifacts, Quantum Health, Summit Health and WebPT. Founded in 1966, Warburg Pincus has raised 20 private equity and 2 real estate funds, which have invested more than $100 billion in over 1,000 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com. Follow us on LinkedIn.
Matter for Experity
Laura Bastardi, 978.518.4525
Senior Vice President Marketing