ST. LOUIS & BOSTON--(BUSINESS WIRE)--Solarity, a leading provider of automated clinical data processing solutions for acute and ambulatory healthcare providers, announced today that it has received a strategic growth investment from TA Associates (“TA”), a leading global private equity firm. Solarity management and existing private equity partner BV Investment Partners (“BV”) will both roll substantial ownership stakes and welcome TA as the new lead investor.
Solarity’s core solution utilizes proprietary technology to intake unstructured clinical data from a wide range of disparate third-party sources, and then validate and standardize that data so that it can be ingested into a healthcare provider’s electronic medical record (“EMR”) system. By automating a mission-critical interoperability workflow, Solarity increases data accuracy and reduces data processing time, while reducing the manual work required to make clinical information accessible at the point of care. Once integrated into a provider’s data intake workflows, Solarity’s solutions allow physicians to make more timely and informed decisions, resulting in improved patient outcomes and enhanced quality care.
“We are greatly thankful for BV’s continued commitment and are thrilled to welcome TA as a new partner in our mission to revolutionize the healthcare technology ecosystem,” said Andrew Fehlman, CEO of Solarity. “TA’s deep industry knowledge and expertise scaling healthcare technology companies will empower us to expand our market reach and breadth of product offerings, supporting our ability to provide best-in-class indexing automation solutions to our customers.”
“As clinical data density continues to increase, healthcare systems require advanced solutions to streamline their data management processes. Solarity’s automation engine is uniquely positioned to solve this pain point, transforming workflows so providers can process complex data more efficiently,” said Ethan Liebermann, Managing Director and Co-Head of Healthcare at TA. “We look forward to joining forces with the Solarity team and BV to build on Solarity’s strong momentum and further establish its position as a market leader,” added Eric Zagorski, Senior Vice President at TA. As part of the transaction, Ethan Liebermann and Eric Zagorski will join the Solarity Board of Directors.
“We are fortunate to have worked with such a top-notch team over the past several years to scale the business and solidify its market-leading position. There remains substantial market opportunity ahead for Solarity and we’re thrilled to bring on TA to help tackle it,” said Sean Wilder, Managing Director at BV.
Today, Solarity’s solutions are utilized by more than 500 hospitals and 6,000 physician offices across the country to support the delivery of high-quality patient care. TA’s investment aims to accelerate the Company’s organic growth strategies, bolstering its technology offerings and driving continued innovation in its software capabilities, to deliver high ROI and exceptional service to its customers.
Financial terms of the transaction were not disclosed.
About Solarity
Solarity is a leading provider of automated clinical data processing solutions, allowing acute and ambulatory healthcare providers to quickly and accurately analyze unstructured clinical data. Enhanced over decades of clinical data transmissions, Solarity’s software integrates into a provider’s existing technology workflows and makes information accessible within any electronic medical record (“EMR”) system, resulting in more informed clinical decisions for physicians and better outcomes for patients. Solarity continues to revolutionize healthcare delivery and mitigate costs, creating more efficient and automated data workflows. For more information, visit www.solarityhealth.com.
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. More information about TA can be found at www.ta.com.
About BV Investment Partners
BV Investment Partners is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested approximately $5.5 billion, actively targeting investments in the tech-enabled business services, software, and IT services industries. The firm is investing out of its 11th private equity fund, which closed in September 2023 with $1.75 billion in capital commitments. BV was ranked in Inc. magazine’s 2023 list of Founder-Friendly Investors. For more information, visit www.bvlp.com.
