Francisco Partners, a San Francisco-based investment firm that focuses on technology and healthcare businesses, is to sell portfolio company QGenda to Hearst. Terms of the transaction have not been disclosed. QGenda provides healthcare workforce management services to over 700,000 physicians and other healthcare providers across more than 45 different specialties. The company’s end-to-end workforce management platform, ProviderCloud, helps customers deploy workforce resources to boost engagement and retention, optimise staffing and reduce labour costs, according to a statement. Qgenda, including its leadership team and approximately 650 employees, will now become part of Hearst Health, Hearst’s healthcare division. QGenda and Francisco Partners were advised by Evercore and Kirkland & Ellis. Francisco Partners has invested in more than 450 technology companies since its 1999 launch. The firm reported $41.9bn in AUM last year.
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