Medsphere Systems Corporation, the leading provider of efficient and interoperable healthcare information technology (IT) software solutions and services, announced Tuesday new $40 million funding to support organic growth and pursue opportunistic strategic acquisitions through a preferred equity investment by TPG Sixth Street Partners. Lee Mooney, Principal at TPG Sixth Street Partners will join Medsphere’s Board of Directors as part of the capital raise. Over the past four years, Medsphere has grown subscription revenue by over 400 percent using a combination of organic growth and accretive acquisitions, achieving a compounded annual growth rate of over 50 percent. With this investment, TPG Sixth Street Partners joins Morgan Stanley Investment Capital, Azure Capital, EPIC Ventures, and NextEquity investing in support of Medsphere’s vision and continued growth.
Read the full article: Medsphere to Grow Interoperable Healthcare IT Platform with $40M Preferred Equity Investment from TPG Sixth Street Partners //
Source: https://www.businesswire.com/news/home/20200114005140/en/Medsphere-Grow-Interoperable-Healthcare-Platform-40-Million