Kirkland & Ellis advised TA Associates, a leading global growth private equity firm, on its definitive agreement to invest, alongside GI Partners, in Netsmart Technologies, Inc., a leading healthcare software company delivering management process solutions and electronic medical records to the health and human services (HHS) and post-acute end markets. TA Associates and GI Partners, a current shareholder in Netsmart, will acquire the stake in Netsmart held by Allscripts Healthcare Solutions, Inc. (NASDAQ: MDRX). The transaction is expected to close in the fourth quarter of 2018 and is subject to customary closing conditions. Financial terms of the transaction were not disclosed.
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The Kirkland team was led by transactional partners Adam Phillips, Sean Kramer and Ryan Jackson and associates Payson Lyman, Ziyad Ziyadzade, Brandon Knop and Matthew Hutchinson; and included tax partners Karen Lee and Devin Heckman; technology and IP transactions partner Vladimir Khodosh and associate Jerry Tower; and healthcare regulatory partners Dennis Williams and Chad Ehrenkranz.