NexTech Systems, LLC
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NexTech Systems, LLC - overview
Established
1997
Location
Tampa, FL, US
Primary Industry
Software
About
NexTech Systems, LLC, based in the US, specializes in providing electronic health record (EHR) software and practice management solutions primarily for specialty healthcare providers. NexTech Systems, LLC was founded in 1997 in Tampa, US, focusing on delivering specialized EHR solutions. The company has successfully executed 4 deals, with the most recent being a Secondary Buyout on July 19, 2023, where TPG acquired the company for USD 1. 4 bn.
The total amount raised by NexTech stands at USD 1. 4 bn. Bill Lucchini and Tony Flodberg currently lead the company as CEOs. NexTech Systems provides a comprehensive suite of electronic health record (EHR) software and practice management solutions tailored for specialty physicians, including those in dermatology, ophthalmology, orthopedics, and plastic surgery.
Their products aim to enhance practice efficiency and patient care with customizable solutions that streamline daily operations, from patient intake to appointment scheduling and billing. Features include automated marketing, patient retention tools, and analytics to help practices optimize revenues and improve patient engagement. NexTech operates on a subscription-based revenue model for its EHR and practice management software, mainly targeting specialty medical practices. Clients engage through annual contracts that facilitate effective management of patient records, billing, and marketing campaigns.
This model allows NexTech to maintain a steady revenue stream while equipping healthcare providers with essential tools for competitive success. The company's EBITDA for the most recent year, 2019, was USD 30. 00 mn. In July 2023, following the acquisition by TPG, NexTech plans to leverage the influx of capital to expand its capabilities and reinforce its position as a leading technology platform for specialty care providers.
This acquisition will support the development of new products designed to enhance service delivery and patient management. Specific markets targeted for expansion include U. S. specialty care sectors, with strategic initiatives planned for implementation within the next fiscal year.
Current Investors
Thomas H. Lee Partners
Primary Industry
Software
Sub Industries
Healthcare IT, Accounting/Finance Software, Application Integration Software
Website
www.nextech.com
Verticals
Cloud Computing, HealthTech
Company Stage
Mature
Total Amount Raised
Subscriber access only
NexTech Systems, LLC - financials
| Fiscal Year Ended | Jun 19, 2019 |
|---|---|
| Revenue (USD) | - |
| % Revenue Growth (YoY) | - |
| EBITDA (USD) | - |
| Operating Income (USD) | - |
| Operating Margin | - |
| % EBITDA Margin | - |
| NET Income (USD) | - |
| % Net Margin | - |
NexTech Systems, LLC - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Secondary Buyout | Completed | NexTech Systems, LLC | - | ||||||||
| Add-on | Completed | Avezen, LLC | - | ||||||||
| Add-on | Completed | MyMedLeads.com, Inc. | - | ||||||||
| Secondary Buyout | Completed | NexTech Systems, LLC | - | ||||||||
| Add-on, Trade Sale | Completed | SRS Health | - |
Displaying 1 - 5 of 8
NexTech Systems, LLC - employee data
NexTech Systems, LLC - key contacts
| Name | Position | Start Date | End Date | Vcard | Bio | ||
|---|---|---|---|---|---|---|---|
| Co-founder and Board Member | BM | ||||||
| President & CEO; Board Member | BM |
BM Board Member
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