Sheridan Capital Partners (Sheridan) has completed the majority recapitalisation of SpendMend in partnership with management and Morgan Stanley Capital Partners (MSCP), the middle-market focused private equity team at Morgan Stanley Investment Management.
Sheridan originally invested in SpendMend in January 2018 and enjoyed four successful years working closely with the founders. Co-founder and CEO Dan Geelhoed and co-founder and President Rob Heminger will continue to lead the business, while Sheridan has retained a minority ownership stake and board seat.
SpendMend is a provider of tech-enabled solutions to optimise the cost cycle for the US healthcare industry, and serves more than a third of the top 100 health systems.
