Warburg Pincus Acquires Majority Stake In DocuTAP
DocuTAP, a Sioux Falls-based company that provides healthcare technology for urgent care, has sold a majority stake to Warburg Pincus, a global private equity firm focused on growth investing.
Terms of the transaction were not disclosed.
DocuTAP provides software for electronic medical records, practice management software and revenue cycles management for more than 1,300 urgent care and primary care clinics.
DocuTAP says the company has added 350 urgent care clinics to its network in the last year alone.
“We’re grateful for the many people and partners that have helped make DocuTAP what it is today. Warburg Pincus is the ideal partner to position us for a future of growth as we expand our product line. I’m excited that they share our vision for the future of DocuTAP in leading the on-demand healthcare market,” says DocuTAP founder and CEO, Eric McDonald.
“Convenience, simplicity, and speed are what consumers want,” said Vishnu Menon, Managing Director, Warburg Pincus. “As the leader in urgent care technology, DocuTAP is positioned to take the reins in the on-demand healthcare market. We look forward to partnering with Eric and the rest of the leadership team to support their strategy of increasing the Company’s market presence, continuing its rapid expansion, and bolstering its product line.”