Private equity firm TA Associates has completed an investment in Datix, a specialty healthcare patient safety software provider.
Existing investor Five Arrows Principal Investments, the European corporate private equity business of Rothschild Merchant Banking, will maintain a significant equity stake in Datix. Financial terms of the transaction have not been disclosed.
Founded in 1986, Datix is a leading global provider of patient safety and healthcare risk management software. The company’s suite of software products enables over 20,000 sites among more than 800 customers to address daily incident management and regulatory needs through its interconnected modular solutions. The company is headquartered in London with approximately 160 employees across four offices in the United Kingdom, the United States and Australia.
“As a global company that is seeking to continuously find ways to set the standard for patient safety, we believe it is critical to have financial and operational support to ensure that our customers around the world are receiving the highest quality products and services,” says Seyed Mortazavi, Chief Executive Officer of Datix. “Given TA Associates’ deep experience within the healthcare and technology industries as well as the firm’s value-add resources, we are confident that we have found the ideal partner as we embark upon our next phase of growth. We are delighted to welcome TA as an investor and are equally excited to be able to continue our strategic relationship with Five Arrows.”
As part of the transaction, Naveen Wadhera, a Managing Director at TA Associates, and Ethan Liebermann, a Principal at TA Associates, will join the Datix Board of Directors.
Kirkland & Ellis LLP provided legal counsel to TA Associates. Sidley Austin LLP provided legal counsel and Arma Partners served as financial advisor to Datix.
