ALPHARETTA, Ga., July 10, 2024 /PRNewswire/ -- Medicus IT ("Medicus" or "the Company"), the leading healthcare-focused IT managed services provider, today announced that it has received a significant investment from FFL Partners ("FFL"), a private equity firm focused on growth investments in Healthcare and Tech-Enabled Services businesses. Financial terms of the transaction were not disclosed.
Headquartered in Alpharetta, GA, Medicus provides HIPAA-compliant, best-in-class managed IT and cybersecurity services to more than 6,500 healthcare providers with more than 50,000 end users. The Company has approximately 300 employees serving outpatient provider and community health center clients across 30+ states and 2,000+ locations.
"We are excited to partner with FFL during a time when healthcare organizations face significant IT challenges," said Chris Jann, Founder and CEO of Medicus IT. "This partnership will accelerate our expansion and enhance our mCare services platform, leveraging FFL's expertise to drive growth and innovation. Most importantly, FFL's investment will enable us to serve more healthcare providers, allowing them to focus on what matters most – their patients."
"We are thrilled to partner with Medicus IT as it embarks on its next stage of growth," said Jonathon Bunt, Partner at FFL Partners. "Medicus IT's healthcare expertise combined with their EMR/EHR-agnostic approach and compelling cybersecurity capabilities have helped distinguish Medicus IT as the leading Healthcare-focused MSP in the market."
Medicus launched its next-generation, comprehensive managed service offering known as mCare™ in 2022 to serve the IT, cybersecurity and compliance needs of ambulatory outpatient care and community health centers. The Healthcare IT market is expected to grow at 15.8% annually from 2024 to 2030 according to Grand View Research. Advances in healthcare technology, the move to the cloud and increasing cybersecurity and compliance concerns are driving healthcare providers to uplevel their IT operations.
Kirkland & Ellis, LLP served as legal counsel to FFL. Baird served as the exclusive financial adviser and Whiteman Osterman & Hanna LLP as legal counsel to Medicus IT. Medicus IT was previously backed by 424 Capital.
About Medicus IT
Medicus IT is committed to helping healthcare organizations leverage technology to optimize patient care and deliver better patient outcomes. Moving beyond traditional IT, Medicus helps its healthcare clients run their IT infrastructure, grow their operations, and transform their organizations. Headquartered in Atlanta, Georgia, with service centers in New Jersey, Ohio, Florida, Arizona, and North Carolina, Medicus is one of the nation's top Healthcare Solutions Providers (HSP), serving more than 6,500+ providers, with over 50,000+ users in over 2000+ locations.
Together, we drive healthcare forward™.
About FFL Partners
FFL Partners is a leading middle-market private equity firm that has been investing in high-quality companies since 1997. Based in San Francisco, FFL is a hyperspecialized, thematic investor focused on targeted areas within Healthcare and Tech-Enabled Services, two complementary sectors in which the firm has deep expertise and broad networks. FFL employs a proprietary sourcing and value creation strategy called the Sector Exploration and Expertise Development ("SEED") process. The firm aims to partner with exceptional management teams and employs a high-engagement approach to accelerate growth at its businesses. FFL currently has over $6 billion of cumulative capital commitments. For additional information, please visit www.fflpartners.com
SOURCE Medicus IT
