TA has partnered with Vee Healthtek to support continued growth and innovation.
Takeaway Points
- TA partners with Vee Healthtek to support growth and innovation.
- This partnership will allow Vee Healthtek to leverage TA’s global resources and extensive experience in the healthcare sector.
- Goodwin Proctor LLP and Pioneer Legal served as legal advisors to it on the transaction.
- The financial terms of the transaction were not disclosed.
TA Partners with Vee Healthtek
TA Associates (“TA”), a leading global private equity firm, on Tuesday announced the completion of a strategic growth investment in Vee Healthtek (“the Company”), a prominent provider of technology-enabled solutions and services for healthcare organizations. This partnership will allow Vee Healthtek to leverage TA’s global resources and extensive experience in the healthcare sector to enhance technology capabilities, expand offerings, and fuel client success.
Chocko Valliappa, Founder and Chairman of Vee Healthtek, commented, “With TA, we’ve found the right partner to help us sustain our industry-leading growth and increase our service offerings and market presence. TA will play a crucial role in the Company’s expansion, both organically and through strategic acquisitions. I look forward to working closely with TA’s team to take Vee Healthtek’s impact on clients to the next level.”
Matt Michaels, CEO of Vee Healthtek, said, “TA brings rich experience in the healthcare services and technology domain that we are thrilled to leverage for our clients. This investment underscores Vee Healthtek’s commitment to delivering high-impact results that significantly contribute to our clients’ success. Alongside TA, we look forward to developing and enhancing our tailored solutions that increase reimbursement, maximize efficiency, and drive productivity for healthcare organizations.”
Aditya Sharma, Managing Director at TA, remarked, “Vee Healthtek has experienced rapid growth as the demand for secure, global, high-quality partners in revenue cycle management and adjacent services continues to accelerate. We are excited to work with Chocko, Matt and the entire team at Vee Healthtek to build and expand new-age solutions that transform operational efficiency for providers and payers. We have followed Vee Healthtek for many years and have been impressed by the Company’s high-quality customer base, which includes some of the largest health systems in the US, along with their deep domain knowledge and technology-centric approach to delivering the best outcomes for customers,” said Dhiraj Poddar, Managing Director at TA.
Who are the legal advisers?
TA said that Goodwin Proctor LLP and Pioneer Legal served as legal advisors to it on the transaction. Avendus Capital served as the financial advisor, and Shardul Amarchand Mangaldas and K&L Gates served as legal advisors to Vee Healthtek.
The financial terms of the transaction were not disclosed, and the transaction has received all relevant regulatory approvals, the report stated.
About TA
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong.
About Vee Healthtek
Headquartered in New York, Vee Healthtek is a leading provider of technology enabled solutions and strategic partnerships to healthcare organizations. Rooted in a history of innovation, Vee Healthtek is dedicated to delivering industry-best results backed by data and technology in areas such as revenue cycle management, business intelligence, claims adjudication, among others.
