Harris Williams & Co. Advises Caradigm, LLC on the Sale of its Identity and Access Management Business to Imprivata

October 30, 2017

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that it advised Caradigm, LLC (Caradigm), a wholly-owned affiliate of GE Healthcare, on the sale of its Identity and Access Management Business to Imprivata, a portfolio company of Thoma Bravo, LLC (Thoma Bravo). Caradigm is a leading population health company providing software to hospitals and clinically integrated networks. The transaction was led by Jeff Bistrong, Sam Hendler, Dan Linsalata and Ryan Costa of Harris Williams & Co.’s Technology, Media & Telecom (TMT) Group.

“We are pleased to have advised Caradigm and its parent company, GE, on the sale of its Identity and Access Management business,” said Jeff Bistrong, a managing director at Harris Williams & Co.  “This transaction extends both our firm’s track record of advising large, strategic players on complex carve-out transactions and our expertise in security software, where we expect to continue to see significant M&A activity.”

“This transaction is a great outcome for both companies, as it positions both Caradigm and Imprivata to focus on their core strengths,” added Sam Hendler, a managing director at Harris Williams & Co. “Caradigm will be able to continue developing its market-leading population health management solution with best-in-class tools to improve clinical outcomes and lower cost across populations.”

Caradigm is a GE Healthcare company offering intelligent healthcare analytics and population health management solutions. Caradigm is dedicated to improving patient care, advancing the health of populations and reducing healthcare costs. Its enterprise software portfolio encompasses all capabilities critical to delivering effective population health management, including data control; healthcare analytics; and care coordination and engagement. Caradigm’s customers include large integrated delivery networks, accountable care organizations, clinically integrated networks, academic medical centers and community hospital networks. Based in Bellevue, Washington, Caradigm received the Frost & Sullivan 2017 North American Health IT Value-Based Care Management Product Leadership Award.

GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and more affordable healthcare around the world. GE (NYSE: GE) works on things that matter - great people and technologies taking on tough challenges. From medical imaging, software and IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions, GE Healthcare helps medical professionals deliver great healthcare to their patients.

Imprivata®, provides healthcare organizations globally with a security and identity platform that delivers authentication management, fast access to patient information, secure communications and positive patient identification. Imprivata enables care providers to securely and efficiently access, communicate and transact patient health information to address critical compliance and security challenges while improving productivity and the patient experience.

Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $18 billion in capital commitments, Thoma Bravo partners with a company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. The firm has offices in San Francisco and Chicago.

Harris Williams & Co. (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s TMT Group advises leading private and public companies, entrepreneurs, private equity firms and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the Software/SaaS and Internet & Digital Media segments, with particular emphasis on specific verticals including education, energy technology, fintech, public sector and supply chain/logistics and has a dedicated healthcare technology (HCIT) practice. Across verticals it also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 7078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.