– WPC Healthcare Completes Management Buyout
WPC Healthcare Completes Management Buyout
Management Team Acquires Leading Healthcare Analytics Business
NASHVILLE, Tenn., September 29, 2015 – WPC Healthcare (WPC), provider of Taproot Cloud™ and other predictive analytics services for the healthcare industry, has completed its management buyout from Seattle-based parent, Washington Publishing Company.
Exact terms of the deal are not disclosed. The financing will fuel company plans to roll out Taproot and other software-as-a-service (SaaS) solutions on a national scale.
“Last year, we began building out our Taproot Cloud analytics platform. The market response has been tremendous, due to the growing demand for analytic capabilities and data science expertise in the healthcare ecosystem,” says Ray Guzman, WPC’s chief executive officer. “We needed additional capital to accelerate growth and are pleased to partner with West End Holdings and CapStar to help us scale.”
According to Guzman, Taproot Cloud is the result of 40 years of deep industry experience combined with data science expertise. WPC will pursue broader distribution of the analytics platform throughout the healthcare industry with an increase in sales force and partner development.
“We are thrilled to have launched a successful organization and it is rewarding to see how the WPC Healthcare team exemplifies our core values in by providing high quality solutions with integrity to its clients,” says Andrew Fitzpatrick, chief executive officer of Washington Publishing Company. “This new chapter is like watching a fully grown child move out of the house to reach their full potential on their own. The buyout provides us with an opportunity to focus on our publishing business that has been at the core of our success for four decades.”
Equity funding was provided by West End Holdings, LLC and senior financing is from CapStar Bank. Baker Donelson was WPC’s legal counsel for the deal.
In addition, WPC announces the addition of Guy Crossley as president. He will be responsible for the company’s administrative and financial operations. Crossley arrives at WPC with 25 years of experience as an operational business leader with a track record of successfully scaling growth stage organizations, across varied verticals, through double-digit revenue growth.
About WPC Healthcare
WPC supports building the “information IQ” of every client to ensure healthcare is ready for whatever comes down the road – next month or next year. WPC Healthcare is the right partner to optimize business and technology processes fueled by accurate, organized data. WPC is an expert in healthcare data, including reimbursement, compliance, integration and predictive analytics. With the right mix of technologists, subject matter experts and data scientists, WPC offers payers, providers and health systems the decision support and business intelligence to transform data into understanding. Visit us at www.wpchealthcare.com.
Contact for WPC Healthcare: Amanda Cecconi, 615-473-7536
About West End Holdings
West End Holdings is a private equity partnership focused on making active investments in the healthcare services, business services, and IT services industries. Fundamentally growth investors, not financial engineers, the Managing Partners of West End Holdings invest in businesses they can help improve through focus on growing revenue, containing costs, leveraging technology, optimizing invested capital, and taking care of people. For more information, visit www.westendholdings.com
Contact for West End Holdings: Lyle Beasley, 615-294-9940
About CapStar Bank
CapStar Bank opened in Nashville on July 14, 2008. With total assets of $1.2 billion, CapStar’s commercial division are experts in Commercial and Industrial, Commercial Real Estate and Healthcare lending. CapStar is headquartered at 201 Fourth Avenue in downtown Nashville, with branches at 5500 Maryland Way in Brentwood; 2321 Crestmoor Road in Green Hills; 101 Springhouse Court, Hendersonville; 885 Greenlea Blvd, Gallatin; and its Farmington Mortgage office at 2002 Richard Jones Road in Green Hills. For more information about CapStar, visit www.CapStarBank.com.
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