Frazier Healthcare Partners (Frazier), a healthcare-focused investment firm, announced recently that it has completed its acquisition of RevSpring a provider of end-to-end communication and payment solutions servicing healthcare and financial services companies, from leading private equity firm GTCR. Frazier is joined in the transaction by NEA, 22C Capital, and RevSpring’s senior leadership team.
The partnership with Frazier will leverage Frazier’s investment, experience, and deep industry expertise to accelerate the Company’s success as a leading solution provider in the communication and payments industry. RevSpring helps customers accelerate revenue and increase engagement through an intelligent digital platform that includes omnichannel communication, payments, and analytic tools. The Company will continue to invest in its people and solutions, which includes its Best in KLAS Patient Communications software.
“We are excited about RevSpring’s next chapter of growth in partnership with Frazier,” said Scott MacKenzie, CEO of RevSpring. “We are proud of the growth and the significant momentum we’ve experienced to date. Partnering with a firm of Frazier’s reputation positions us well to continue to invest in leading solutions that deliver strong outcomes and ROI for our clients.”
“We are thrilled to partner with Scott and his leadership team to continue to provide best-in-class solutions to the Company’s customers,” noted Christina Reszka, Partner at Frazier. “GTCR and RevSpring built a strong, rapidly growing Company, and we look forward to bringing additional resources to accelerate and enhance RevSpring’s offerings, including the expertise of Frazier’s Executive in Residence Roger Davis, who will become Executive Chairman of the Board, as well as support from several of its Senior Advisors and members of its Center of Excellence.”
Morgan Stanley and TripleTree acted as co-lead financial advisors to RevSpring, and William Blair acted as financial advisor to Frazier. Kirkland & Ellis LLP served as legal counsel to RevSpring, and Goodwin Proctor LLP served as legal counsel to Frazier.
