ARLINGTON, Va.--(BUSINESS WIRE)--Surescripts®, the nation’s leading health information network, today announced that TPG, a global alternative asset management firm will join the Surescripts ownership group as a majority investor. TPG is investing in Surescripts through TPG Capital, the firm’s U.S. and European private equity platform.
TPG’s investment will allow Surescripts to develop an array of solutions addressing healthcare’s biggest challenges. This investment will accelerate Surescripts’ ability to scale existing Intelligent Prescribing, Benefits and Authorizations, and Clinical Interoperability solutions. It will allow Surescripts to further streamline the benefits process to reduce clinician burnout, help prescribers more efficiently deliver affordable medications to patients, and support the role of pharmacists as part of an evolving care team.
“Surescripts is uniquely poised to address the numerous challenges facing healthcare today and help healthcare heal itself,” said Frank Harvey, Chief Executive Officer for Surescripts. “We are partnering with TPG because of our shared vision for improving healthcare for patients and the clinicians who care for them. TPG’s support will enable us to scale existing solutions while advancing new innovative technologies that will continue to enhance patient safety, lower costs and ensure quality care, amplifying our impact across healthcare.”
TPG has significant experience supporting leading U.S. healthcare organizations across the industry. TPG seeks to invest in products, technologies, and services that are improving patient access and outcomes while promoting efficiency and innovation across the system.
“We have long admired Surescripts for its central role in revolutionizing how clinicians care for their patients, and we recognize the potential that exists to continue transforming health intelligence sharing and patient care,” said Katherine Wood and Art Heidrich, Partners at TPG.
“TPG and Surescripts share similar priorities focused on meeting the needs and addressing the challenges facing clinicians and patients across healthcare in the U.S. Together, we can deliver impact at scale, improving quality and patient outcomes,” John Schilling, M.D., Co-Managing Partner of TPG Capital.
For more than two decades, Surescripts has provided healthcare with simpler, trusted health intelligence sharing. Surescripts E-Prescribing first transformed healthcare by bringing secure, accurate prescriptions that enhance patient safety. Since then, Surescripts has advanced health intelligence sharing, supporting nearly 24 billion exchanges of patient clinical and benefit information in 2023, providing better informed, safer and less costly care for patients nationwide.
The transaction is subject to customary regulatory approvals.
TripleTree served as the exclusive financial advisor to Surescripts for this transaction. Cleary Gottlieb Steen & Hamilton served as legal counsel for Surescripts. Evercore, J.P. Morgan Securities LLC, and Deutsche Bank acted as financial advisors to TPG, and Kirkland & Ellis LLP served as legal counsel.
About TPG
TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $229 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit www.tpg.com.
About Surescripts
Our purpose is to serve the nation through simpler, trusted health intelligence sharing, in order to increase patient safety, lower costs and ensure quality care. At Surescripts, we align healthcare organizations across the nation and convene the Surescripts Network Alliance® to give healthcare professionals the trusted insights they need to serve patients. Together, we’re making interoperability an everyday reality, making it simpler to choose medications patients can afford and adhere to, and getting specialty medications to patients more efficiently. Visit us at surescripts.com and follow us on LinkedIn.
