Francisco Partners has sold API Healthcare to General Electric

Client: Francisco Partners II, LP

Client Location: United States

Target: API Healthcare

Target Location: United States

Acquirer: General Electric Company

Acquirer Location: United States

Target Description: API Healthcare is a provider of healthcare-specific workforce management solutions.

The Deal

API Healthcare had previously entered into agreement to be acquired by Kronos, only to have the Department of Justice block the transaction. API’s strategic landscape included a diverse array of buyers, many of whom are not traditional software acquirers (e.g., General Electric [GE]), who required more time in the process to educate themselves on the software opportunity.

Our Perspective

“We were delighted to be involved in the evolution of an industry leader such as GE as they embark on an ambitious new software and industrial internet strategy,” said Clark Spurrier, Managing Director at Lincoln. “Healthcare is a strategic vertical for us, and software companies that serve the industry are perfectly suited for our strategic audit, given the fragmentation in the sector and the consequent need for patient education of a broad and diverse group of potential buyers.”

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