AdvancedMD Software Inc. a leading provider of web-based medical practice management solutions, today announced that it has been acquired by Francisco Partners, a leading technology-focused private equity firm based in San Francisco. The combination of AdvancedMD's success and its opportunity for sustained growth in the physician practice management market were the foundations for Francisco Partners' investment.
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AdvancedMD Software Inc.
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AdvancedMD Software, Inc., headquartered in Salt Lake City, Utah, is the leader in Web-based practice management and medical billing software. AdvancedMD Software brings to market AdvancedMD, a full-featured billing and scheduling solution and AdvancedEMR, a flexible electronic medical records management system. AdvancedMD solutions include free technical support, world-class security, and fully HIPAA compliant accessibility. Winner of the 2007 CODIE AWARD for "Best Healthcare Management Solution (Vertical)," AdvancedMD maintains a 98% customer retention rate and serves thousands of providers nationwide.
With $5 billion of capital under management, Francisco Partners is one of the world's largest technology-focused private equity funds. The firm was founded to pursue structured investments in technology companies undergoing strategic, technological, and operational inflection points. Francisco Partners targets control investments in private companies, with transaction values ranging from $30 million to $2 billion. The principals of Francisco Partners have a proven track record, having invested in excess of $3 billion of equity capital in over 50 technology companies.
PEOPLE
Michael Lee, Managing Partner of Dominion Ventures and former Chairman of AdvancedMD
John Trzeciak, healthcare advisor to Francisco Partners to become CEO
Ezra Perlman, Partner at Francisco Partners
Jim Pack, CEO of AdvancedMD
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