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Thoma Bravo supports Bluesight’s Medacist acquisition

Software-focused private investment major Thoma Bravo has closed a strategic growth investment in Bluesight, a provider of pharmacy software solutions, to support the company’s acquisition of Medacist, a specialist in drug diversion monitoring.

Financial terms of the transaction, which will see current Bluesight investor New Leaf Ventures remain invested in the business, have not been disclosed.
Bluesight’s vision is to transform the hospital pharmacy supply chain through software. The company’s acquisition of Medacist combines two specialists in drug diversion analytics and medication management solutions that together will serve more than 2,000 hospitals across North America. 

Bluesight says its auditing capabilities and visibility across all hospital care areas complement Medacist’s reporting and visibility tools across the health system. Healthcare organisations will now have a single source of software solutions that provides insights into medication usage and diversion to allow for the accurate predictions, targeted interventions and, ultimately, improved patient outcomes.
Piper Sandler & Co served as financial advisor to Bluesight and Taft, Stettinius and Hollister served as legal counsel. Provident Healthcare Partners served as financial advisor to Medacist and Robinson & Cole served legal counsel. Kirkland & Ellis served as legal counsel for Thoma Bravo. Committed financing for the transaction was led by Monroe Capital.

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