US-based private equity firm Coalesce Capital has acquired a majority stake in DAS Health Ventures, a provider of healthcare IT and business solutions.
The acquisition aims to strengthen DAS Health’s offerings in IT, cybersecurity, and revenue cycle management, enhancing patient care across North America.
Sheridan Capital Partners, which invested in DAS Health in 2021, will retain a minority stake.
DAS Health delivers a comprehensive suite of services to thousands of healthcare organisations, streamlining workflows and increasing productivity.
Coalesce Capital plans to invest in technology, talent, and strategic acquisitions to further strengthen DAS Health’s capabilities and value delivery to healthcare organisations.
DAS Health president and CEO Michelle Jaeger said: “We are thrilled to welcome Coalesce Capital as we embark on this next chapter for DAS Health.
“Their investment underscores our commitment to delivering innovative solutions that help healthcare organisations operate more efficiently and improve patient care.
“With Sheridan’s continued support, we are well-positioned to broaden our reach and help even more providers achieve operational excellence and better outcomes.”
Based in Tampa, Florida, DAS Health operates regional offices in 15 US states and Canada, with a presence in six Canadian provinces and over 35 US states.
The company impacts over 15 million patients nationwide through managed IT services, cybersecurity, cloud hosting, and more.
With over $1.4bn in regulatory assets under management, Coalesce Capital focuses on investing in human capital-driven and technology-enabled services companies.
Sheridan Capital Partners, based in Chicago, is a healthcare private equity firm targeting lower middle market buyouts and growth equity in the US and Canada.
The firm partners with companies in healthcare IT, provider services, and consumer health to accelerate growth and build enduring value.
Houlihan Lokey served as the financial advisor, and McDermott Will & Emery as the legal advisor for DAS Health on the transaction.
Lazard and Latham & Watkins served as the financial and legal advisors for Coalesce Capital.
Coalesce Capital founder and managing partner Stephanie Geveda said: “As healthcare organisations face growing challenges in patient data management, regulatory compliance, and operational demands, DAS Health stands out as a trusted partner solving these critical pain points.
“We are excited to invest in DAS Health, whose proven track record for delivering reliable, mission-critical solutions has already improved care for over 15 million patients. We look forward to supporting their continued growth.”
Sheridan partner Jonathan Lewis said: “Since partnering with DAS Health in 2021, we have seen the company significantly expand its solutions and deliver increasing value to a growing client base.
“We are proud of the DAS Health team’s progress and look forward to supporting their continued expansion alongside Coalesce to deliver even more impact for healthcare organisations.”
