Warburg Pincus Acquires Majority Stake in DocuTAP
Sioux Falls, S.D. (May 4, 2016) ” DocuTAP, Inc., a leading provider in healthcare technology for urgent care, announced today that it has been acquired by Warburg Pincus, a global private equity firm focused on growth investing. Terms of the transaction were not disclosed.
DocuTAP provides software for electronic medical records, practice management software and revenue cycle management for more than 1,300 urgent care and primary care clinics. The Company has grown significantly in the last several years, expanding its workforce, and adding 350 urgent care clinics to its network in the last year alone.
DocuTAP is led by founder and Chief Executive Officer Eric McDonald, who formed the Company in 2000 after anticipating the future need for mobile, hand-held devices in the healthcare industry.
Mr. McDonald commented, “We’re grateful for the many people and partners that have helped make DocuTAP what it is today. Warburg Pincus is the ideal partner to position us for a future of growth as we expand our product line. I’m excited that they share our vision for the future of DocuTAP in leading the on-demand healthcare market.”
“Convenience, simplicity, and speed are what consumers want,” said Vishnu Menon, Managing Director, Warburg Pincus. “As the leader in urgent care technology, DocuTAP is positioned to take the reins in the on-demand healthcare market. We look forward to partnering with Eric and the rest of the leadership team to support their strategy of increasing the Company’s market presence, continuing its rapid expansion, and bolstering its product line.”
DocuTAP’s team of 250+ employees serves over 1,300 urgent care and on-demand primary care clinics. DocuTAP provides urgent care practices with an innovative approach to workflow management. Its flagship product, DocuTAP’s EMR and Practice Management software, fully integrates practice management and electronic medical records capabilities in one complete system. DocuTAP’s complete urgent care solution includes revenue cycle management services—along with DocuTAP Analytics, a business intelligence tool with custom reports and built-in industry benchmarks. Craft a better urgent care experience with DocuTAP. Begin at docutap.com.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $40 billion in private equity assets under management. The firm’s active portfolio of more than 120 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. Founded in 1966, Warburg Pincus has raised 15 private equity funds, which have invested more than $55 billion in over 750 companies in more than 40 countries. Since inception, Warburg Pincus has invested more than $9 billion in healthcare and $18 billion in technology, media and tech-enabled services companies.
The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, SÃ£o Paulo and Shanghai. For more information please visit www.warburgpincus.com.