Our Investments

Absorb

Absorb is a leading provider of cloud-based learning management system (LMS) software that facilitates online learning and training for organizations around the world. Absorb’s LMS allows organizations to create, manage and deploy educational courses and assessments in an intuitive, scalable SaaS platform. The company serves all industries and several use cases, including internal (e.g., employees, members) and external (e.g., partners, customers, contractors) training. Today, Absorb is trusted to fuel the learning needs for over 28 million users across 1,700 clients in 34 countries. 

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Abzena

Abzena is a contract research, development and manufacturing organization (CRDMO) delivering integrated drug discovery, development and manufacturing services to global pharmaceutical and biotech companies. The company focuses exclusively on the high-growth biologics and antibody-drug conjugate (ADC) end markets, with the ability to serve customers from early research through clinical trials and beyond.

Abzena operates three centers of excellence in the United Kingdom and the United States. The company’s end-to-end capabilities and strategically located network enable biopharma clients to bring life-changing therapies to patients more quickly and cost-effectively.

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Alert Logic

Alert Logic is a leading provider of managed detection and response (MDR) solutions, offering comprehensive security services that help organizations detect and respond to cyber threats. The company’s cloud-native platform delivers real-time threat intelligence, advanced analytics and 24/7 monitoring, providing clients with the insights and support they need to protect their critical assets.

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Alliance Data

Alliance Data is a leading provider of data-driven marketing and loyalty solutions, helping companies build stronger customer relationships and drive business growth. The company’s offerings include loyalty programs, marketing services and payment solutions that leverage advanced data analytics to deliver personalized experiences and maximize customer engagement.

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AssistRx

AssistRx is a tech-enabled patient support platform that partners with pharma to reduce friction in the patient journey related to accessing, affording and adhering to drug therapies.

The company provides technology solutions and patient support services on behalf of pharma manufacturers across a variety of therapeutic areas. AssistRx reduces the burden for healthcare providers prescribing specialty medications, interacts with payors and connects with pharmacies to reduce time to therapy. The ability to integrate technology and therapy expertise helps advance care and delivers better results for patients.

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Asurion

Asurion provides insurance, repair, replacement, installation and 24/7 tech support for cell phones, tablets, laptops and other consumer electronics and appliances. The Company helps its over 300 million subscribers get the most out of their increasingly complex portfolio of consumer electronics and also offers financial protection for lost/stolen/broken devices. With 700+ storefront locations and 85% of the U.S. covered via same-day expert service in-home, Asurion is making convenient and affordable repairs available. Many of the biggest brands in the world, including Verizon, AT&T and Samsung, trust Asurion to serve their customers on a white-label basis.

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Avetta

Avetta is a leading horizontal, SaaS-based supply chain risk management and ESG platform that allows clients to comprehensively manage, monitor and mitigate critical risks within their supply chain. Avetta provides a two-sided network that serves 500+ clients, 125,000+ suppliers and 1.5 million+ workers across 120+ countries.  

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Bisys

Bisys is a premier provider of outsourced solutions for the financial services industry, specializing in banking, investment services and insurance. The company delivers comprehensive administrative, distribution and technology services that help clients streamline operations, reduce costs and enhance their competitive position.

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CenterWell Senior Primary Care

CenterWell Senior Primary Care is a leading provider of senior-focused, risk-bearing primary care services to Original Medicare and Medicare Advantage beneficiaries.

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Ceridian

Ceridian is a global leader in human capital management (HCM) technology, providing innovative solutions that help organizations manage the entire employee lifecycle. The company’s flagship product, Dayforce, is a comprehensive cloud-based platform that integrates payroll, benefits, workforce management and talent management into a single application.

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Clearwater Analytics

Clearwater provides an industry-leading SaaS investment accounting, reporting, and analytics solution. The company serves over 1,100 insurers, asset managers, corporations and asset owners that trust Clearwater to deliver timely, validated investment data and analytics on more than $5.9 trillion of investments.

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Concentra

Concentra is a leading provider of occupational health services, specializing in delivering comprehensive medical care and wellness programs to employees across various industries. The company primarily provides workers’ compensation injury care (e.g., primary injury care, physical therapy, return-to-duty examinations) and employer services (e.g., physical exams, medical surveillance, drug testing, job-specific testing).

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Emerus

Emerus Holdings Inc. provides high-quality inpatient and emergency department services in neighborhood hospitals. Emerus operates 40+ hospitals with more on the way.

Since its inception, Emerus has seen nearly four million patients and serves over 500,000 patients annually through 10 joint-venture relationships with leading nonprofit health systems. Each hospital features 16–24 rooms and beds with onsite radiology, diagnostic laboratory services and board-certified emergency medicine physicians. Emerus provides quality hospitalist and other specialist services remotely via a telemedicine-based platform in fully licensed, 30,000- to 60,000-square-foot hospital buildings. Emerus’s care model serves patients in their communities while delivering superior satisfaction and health outcomes.

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EnableComp

EnableComp is a leading specialized revenue cycle management platform, offering health systems a technology-enabled, comprehensive suite of complex claims solutions.

The company primarily recovers revenue across four specialty claim categories: veterans administration, Workers’ compensation, motor vehicle accident and out-of-state Medicaid. EnableComp’s unique expertise and its proprietary software platform, Enforcer360, deliver compelling ROI for clients and drive EnableComp’s industry-leading Net Promoter Score (NPS). The company has experienced significant growth, recovering more than $5 billion for over 1,000 health systems and provider organizations across all 50 states.

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EquiLend

EquiLend is a global leader in financial technology, providing trading, post-trade and market data solutions to the securities finance and collateral management industries.

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Fiserv

Fiserv is a global leader in financial technology solutions, providing integrated technology and services to financial institutions, businesses and consumers. The company offers a wide range of products, including payment processing, account processing and digital banking solutions, which enable clients to deliver superior customer experiences and achieve operational excellence.

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GlobalCollect

GlobalCollect is a premier provider of international payment solutions, offering a comprehensive suite of services that enable businesses to accept payments from customers worldwide. The company’s platform supports a wide range of payment methods, including credit and debit cards, bank transfers and alternative payment options, ensuring seamless and secure transactions.

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GovCIO

GovCIO is a rapidly growing provider of advanced technology solutions and digital services to the federal government. GovCIO employs over 3,000 professionals and is a leading prime contractor supporting the mission of the Department of Defense, the Department of Veterans Affairs and other federal agencies.

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Green Street

Green Street is a leading provider of commercial real estate (CRE) intelligence, including research, data, analytics and exclusive news in North America and Europe through a cloud-based software platform. The company serves a blue-chip client base, including institutional investors, investment banks, brokers and REITs who use its intelligence to inform mission-critical decisions and industry knowledge.

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Headstrong

Headstrong is a leading global consultancy specializing in IT services and business process outsourcing, providing clients with innovative solutions that drive digital transformation and operational efficiency. The company’s expertise spans a wide range of areas, including application development, data analytics and IT infrastructure management.

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Identifix

Identifix is a leading provider of precision manufacturing and engineering solutions, specializing in the design and production of high-quality components for a variety of industries. The company’s advanced capabilities in CNC machining, injection molding and additive manufacturing enable it to deliver complex parts with unparalleled accuracy and consistency.

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ImageTrend

ImageTrend is a leading provider of SaaS-based electronic patient care reporting (ePCR) and record management system (RMS) solutions for EMS and fire departments across the United States. 

ImageTrend serves a mission-critical need for its customers by enabling first responders to digitally document incidents and ensure that mandatory patient care data is reported quickly and accurately. The company’s incident data is used by hospitals and state and local governments to improve care within their communities. 

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InnovAge

InnovAge Holding Corp. (NASDAQ: INNV) is the largest provider of the Program of All-Inclusive Care for the Elderly (PACE) and provides fully capitated care to high-cost individuals who qualify for benefits under both Medicare and Medicaid (or “dual eligibles”).

The company’s participant-centered care is designed to improve the quality of the care its patients receive while keeping them in their homes for as long as safely possible and reducing overutilization of high-cost care settings such as hospitals and nursing homes.

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Kindred at Home

Kindred at Home is a leading provider of home health, hospice and community care services, dedicated to delivering high-quality, compassionate care to patients in the comfort of their homes. The company’s comprehensive services include skilled nursing, physical therapy, occupational therapy and palliative care, supporting patients through all stages of recovery and chronic illness management.

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Kiniciti

Kiniciti is a buy-and-build platform focused on investing in and supporting non-therapeutic service, tools and technology companies that enable innovation and development of cell and gene therapies (CGTs).

CGT is one of the fastest-growing areas in healthcare, providing life-changing or curative therapeutics for previously untreatable conditions. Kiniciti solves the challenges facing CGT-enabling companies that have created outstanding science to support CGT innovators but lack the commercial, operational and strategic expertise to scale fast enough to satisfy market demand and drive down cost. Kiniciti’s partnership model is focused on ensuring that promising companies that support CGT innovation have access to capital, expertise and strategic resources.

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Leiters

Leiters is an FDA-registered 503B outsourcing provider of compounded medicines.

Compounding is the process of converting drugs in a sterile pharmaceutical-grade environment from bulk supplies into individual doses for patients. Hospitals, surgery centers and physician practices use compounded drugs for infused antibiotics, childbirth medications, anesthesia, analgesics and other procedures. 

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Liberty Dental Plan

Liberty Dental Plan is a dental benefits manager focused on government-sponsored populations.

The company serves over 7 million members in the Medicaid, Children’s Health Insurance Program (CHIP), Medicare Advantage, commercial and exchange dental programs. Liberty manages a network of ~110,000 dental providers across the country, offering high-quality, consistent and convenient access to dental care.

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LINQ

LINQ is the premier software platform serving the back-office and operations workflow of K–12 school districts and state agencies, offering a comprehensive suite of solutions for enterprise resource planning, cafeteria/nutrition management, grant management, human resources management, payments, student registration and parent communication. 

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naviHealth

naviHealth is a leading provider of post-acute care management solutions, specializing in helping patients transition smoothly from the hospital to post-acute care settings. The company’s comprehensive care coordination and management services ensure that patients receive the right care at the right time, improving outcomes and reducing healthcare costs.

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Norstella

Norstella is a leading provider of data, analytics, software and consulting to the life sciences, payor, financial services and other industries, serving ~3,000 customers globally.

Norstella provides clients with critical tools and expertise to navigate complexities and enhance decision-making at each step of the drug development and commercialization life cycle, ultimately smoothing the pathway of lifesaving therapies from pipeline to patient. 

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Owl Practice Suite

Owl Practice Suite is an innovative platform of integrated SaaS software, payments and tech-enabled solutions for the behavioral healthcare market. 

Owl’s full suite of products includes core practice management software (PMS), patient engagement tools, revenue cycle management (RCM) capabilities and back-office functionality. These offerings help a wide range of therapy and behavioral health providers, from solo practitioners to university health systems, to find new patients and manage their practices before, during and after treatment, including handling billing and collections. The company serves a large and rapidly growing end market that still commonly relies on manual paper- and Excel-based processes.  

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Quickbase

Quickbase is a leading cloud-based, no-code application development platform that empowers business users to rapidly develop, customize and deploy new business applications without the need to create or edit software code. Over 6,000 customers rely on Quickbase to quickly and efficiently build customized applications to manage bespoke projects with end-to-end visibility.

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Revel Systems

Revel Systems (Revel) provides industry-leading, tablet-based point-of-sale (POS) and payment solutions primarily to multi-establishment, quick-service restaurant clients in the U.S. and internationally. Revel serves ~7,000 clients operating ~19,000 establishments, with its largest customer bases utilizing its solutions in more than 1,000 establishments across multiple geographies. 

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Select Medical

Select Medical is a leading provider of specialized healthcare services, offering a wide range of inpatient and outpatient rehabilitation services, long-term acute care and critical illness recovery. The company’s extensive network of facilities includes long-term acute care hospitals, inpatient rehabilitation hospitals and outpatient therapy centers.

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Shields

Shields Health Solutions is a leading provider of specialty pharmacy services, partnering with hospitals and health systems to provide comprehensive care for patients with complex chronic conditions. The company’s integrated approach combines pharmacy services, patient support, and technology to improve medication adherence and health outcomes.

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Simeio

Simeio is a leading provider of identity and access management (IAM) solutions, offering comprehensive services that help organizations manage and secure user identities. The company’s suite of IAM solutions includes identity governance, access management and privileged access management, providing clients with the tools they need to ensure secure and compliant access to critical systems and data.

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TransFirst

TransFirst is a leading provider of payment processing services, offering a comprehensive suite of solutions for merchants, financial institutions and independent sales organizations. The company specializes in credit and debit card processing, ACH transactions and payment gateway services, enabling clients to accept payments securely and efficiently.

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Triple Point Technology

Triple Point Technology is a leading provider of commodity management software, delivering comprehensive solutions for trading, risk management and logistics. The company’s products help clients manage the complexities of commodity trading and optimize their supply chains, providing end-to-end visibility and control over their operations.

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TrueCommerce

TrueCommerce is a multi-enterprise network platform that provides digital connectivity and business system integration between buyers/sellers and their trading partners as well as an assortment of value-added supply chain software applications. The company serves over 18,000 customers globally, primarily mid-sized enterprises, across several industry verticals. 

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United Musculoskeletal Partners

United Musculoskeletal Partners (UMP) is a leading provider of musculoskeletal care and related ancillary services, owned and operated in partnership with physicians.

UMP was formed in 2021 as a partnership between WCAS and Georgia-based Resurgens Orthopaedics, one of the largest independent orthopedic groups in the country. Today, UMP has ~450 providers across three states. UMP’s operating model is distinguished by its patient centricity and physician-led governance. Its foundational purpose is to build a collaborative organization that empowers world-class providers with operational support, state-of-the-art technology and rich clinical data to deliver high-quality patient care.

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US Anesthesia Partners

US Anesthesia Partners (USAP) is the nation’s leading provider of anesthesia services, with over 4,500 clinicians providing expert patient care in more than 700 inpatient and outpatient facilities across the U.S.

The company’s physician partnership model promotes alignment and best practice sharing while enabling clinical and operational autonomy. USAP supports its physician practices with centralized management infrastructure and resources to facilitate the delivery of consistent, high-quality patient care.

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US Radiology Specialists (USRS)

USRS is a leading provider of outpatient imaging and radiology practice management, owned and operated in partnership with physicians and health systems.

The company was formed in 2018 as a partnership between WCAS and North Carolina–based Charlotte Radiology, one of the largest independent radiology groups in the country. Today, USRS has more than 4,500 team members across 14 states and operates over 175 outpatient imaging centers, including seven joint ventures with some of the country’s top health systems. The company also supports seven leading subspecialized radiology practices that provide diagnostic interpretations for the company’s outpatient imaging network and over 80 hospitals. Its operating model is built around a commitment to clinical excellence, state-of-the-art technology and an exceptional patient experience at a lower-cost site of care.

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Valtruis

Valtruis partners with innovative leaders whose mission is to realign the U.S. healthcare system along the principles of value-based care.

The Valtruis platform brings functional expertise, access to capital, and an expansive network, which advance our partners’ evolution from early-stage development to industry-leading enterprises. Together, Valtruis and its partner companies aim to break through the systemic barriers in the healthcare industry to reduce costs, expand access, increase quality and improve patient experience.

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