Surescripts and TPG partner to address healthcare challenges
Health information network Surescripts announced a strategic partnership with TPG to improve patient care and address nationwide healthcare needs.
TPG, a global alternative asset management firm, will become a new majority investor in Surescripts through the firm’s US and European private equity platform, TPG Capital.
“Over the past 22 years, Surescripts has served the nation with simpler, trusted health intelligence sharing. This partnership will allow us to invest in new solutions and markets while we continue to innovate within our existing portfolio, all with the goal of delivering on our purpose of increasing patient safety, lowering costs, and ensuring quality care for patients across the country,” Frank Harvey, Surescripts CEO, told Access Insider.
He added TPG’s investment will accelerate Surescripts’ ability to scale its existing intelligent prescribing, benefits and authorizations, and clinical interoperability solutions.
Additionally, “It will allow Surescripts to further streamline the benefits process to reduce clinician burnout, help prescribers more efficiently deliver affordable medications to patients, and support the role of pharmacists as part of an evolving care team,” he said.
The deal remains subject to regulatory approvals, the company stated, with TripleTree serving as Surescripts’ financial advisor and Cleary Gottlieb Steen & Hamilton providing legal counsel. TPG’s advisors include Evercore, J.P. Morgan Securities LLC, and Deutsche Bank, with Kirkland & Ellis LLP serving as legal counsel.
As far as the company’s long-term vision for the partnership, Harvey told Access, “Together with TPG, we will be in an excellent position to meet the needs of the healthcare marketplace and deliver more value across the Surescripts Network Alliance with an array of solutions supporting patients, prescribers, and pharmacists.”
Entering the e-prescribing market, in 2023, Surescripts facilitated the exchange of nearly 24 billion patient clinical and benefit information, according to the company. Its Surescripts Network Alliance connects with over 2 million healthcare professionals and organizations.
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