- Leading technology-focused private equity firm Francisco Partners announced it is acquiring Orchard Software Corporation
Francisco Partners — a leading technology-focused private equity firm — announced it is acquiring Orchard Software Corporation. Orchard Software is a privately owned company specializing in developing and supporting Laboratory Information Systems (LIS) that enhance clinical and pathology laboratory workflow as well as support laboratory outreach and point-of-care testing (POCT).
“We look forward to the partnership with the FP team and are excited about fueling what has made Orchard successful with additional expertise and capital to accelerate our growth and continue to bring innovation to our customers”, said Orchard Software founder and CEO Rob Bush.
In conjunction with the transaction, Billie Whitehurst is succeeding Bush as CEO. Whitehurst has over 20 years of experience leading high growth health information technology businesses and she most recently served as Senior Vice President at Netsmart. Before that, Whitehurst held senior roles at Change Healthcare and McKesson.
“Francisco Partners’ deep experience in healthcare technology and proven track record in nurturing and growing technology businesses will enable Orchard Software’s loyal base of employees to continue delivering market-leading solutions and new innovations,” added Whitehurst.
Orchard is known for specializing in seamless integration, advanced rules-based decision support, and data analytics. And its strength comes from developing collaborative partnerships with clients for delivering the best solutions on the market.
Orchard Software has been a leader in KLAS rankings since 2002 and it remains the top LIS in the community and ambulatory laboratory markets. And Orchard was named to the Indianapolis Star’s Top Workplaces list for 2019 for the eighth year in a row and the ninth time overall.
“Orchard has been the pioneer in the LIS industry, developing market-leading products and maintaining strong, long-standing customer relationships,” explained Jonathan Murphy of Francisco Partners. “They are well-positioned to continue to drive product innovation in the LIS market, and we are excited about the opportunity in POCT and partnering with the team to accelerate the company to new levels of growth and impact for laboratorians across the US.”
Wilson Sonsini Goodrich and Rosati served as legal advisor to Francisco Partners. And Brentwood Capital Advisors served as financial advisor and Bose McKinney & Evans LLP served as legal advisor to Orchard Software.
