Marlin Closes Sale of AdvanceMD for $700 Million

Marlin Equity Partners has sold its stake in AdvanceMD to Global Payments, a leading payment technology and software solutions provider, for $700 million in a deal that is expected to close in the fourth quarter of 2018. Global Payments funded the deal with existing credit and cash on hand.

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AdvanceMD, a SaaS company that offers a suite of solutions for medical professionals, provides integrated clinical, financial, patient engagement and reputation management services in a single cloud-hosted platform. The company’s target market is small to mid-sized U.S.-based ambulatory physician’s practices.

Founded in 1999, AdvanceMD was notable in the medical community for being one of the first software vendors to offer a cloud-based solution for healthcare professionals. The company employs over 600 people and does business with over 26,000 practitioners, including 8,600 practices and 600 medical billing companies.

Global Payments employs over 10,000 people worldwide and is a global leader in e-commerce and omnichannel software solutions. The company invests in innovations across a number of industries, including payroll, convenience, and hospitality. In the healthcare field, the company offers a variety of business tools, mobile solutions, and in-person solutions that could potentially complement AdvanceMD’s existing technology and user base.

Marlin Equity Partners was founded in 2005 by Nick Kaiser and David McGovern. The firm invests strategically to enhance value by leveraging its operational resources, capital base and network of relationships. The firm is headquartered in Los Angeles with an additional office in London.

Noteworthy Marlin Equity acquisitions include Virgin Pulse and Redbrick Health Corp., which formed the basis for a merger that will be one of the world’s largest digital health companies, according to the firm’s announcement earlier this year. Another recent notable acquisition is Bazaarvoice, a leading provider of consumer generated content, advertising and personalization solutions.

Marlin and its staff of investment professionals manage over $6 billion in capital. The firm has successfully closed over 130 acquisitions across a variety of industries, including software, healthcare and industrial technology.