Harris Williams Advises iContracts, Inc. on its Pending Sale to RLDatix Ltd.

May 13, 2019

Harris Williams, a global investment bank specializing in M&A advisory services, announces that it is advising iContracts, Inc. (iContracts), a portfolio company of Susquehanna Growth Equity, LLC (SGE), on its pending sale to RLDatix Ltd. (RLDatix), a portfolio company of TA Associates (TA) and Five Arrows Principal Investments (Five Arrows). iContracts provides a comprehensive suite of contract, policy and revenue management solutions to an expansive blue-chip customer base. The transaction, led by Sam Hendler, Tyler Dewing, Dan Linsalata and Rebecca Evans of Harris Williams’ Technology, Media & Telecom (TMT) Group, extends the firm’s track record in the healthcare technology sector. SGE and the iContracts management team will continue to be shareholders in the combined company.

“Under SGE’s ownership, iContracts has developed an innovative and comprehensive suite of SaaS solutions that enable healthcare organizations to analyze vast amounts of unstructured data and ensure compliance with internal policies and external regulations,” said Sam Hendler, a managing director at Harris Williams.  “We are incredibly excited to have partnered with iContracts and its shareholders to deliver a great outcome in this transaction.”

“The sale of iContracts to RLDatix represents another landmark healthcare technology transaction for our firm,” added Dan Linsalata, a director at Harris Williams. “We look forward to the ongoing success of iContracts as part of the RLDatix platform, as the combined organization continues to play an integral role in driving improved patient safety and outcomes across the healthcare landscape.”

iContracts is a leading cloud-based provider of a governance, risk and compliance management platform with horizontal applicability and established footprints in healthcare, life sciences and higher education. The company’s solutions are enterprise-class and can be quickly and easily integrated with any off-the-shelf or custom system to meet exacting business requirements without the army of consultants and endless fees associated with other products and providers.

SGE invests in growth-stage technology companies providing software, internet and information services. SGE is backed by a unique and patient source of capital, which enables the firm to give management teams and entrepreneurs freedom and flexibility to maximize growth. The firm has invested in over 50 companies over the last 13 years, and has portfolio companies across the U.S., Canada, the EU and Israel.

RLDatix is a driving force for innovation in patient safety. Bringing together the best of RL Solutions and Datix, the company leverages more than three decades of global expertise dedicated to making healthcare safer. RLDatix is one of the world’s largest software company focused exclusively on patient safety, with more than 3,000 customers in 19 countries around the globe.

TA is one of the most experienced global growth private equity firms. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $32.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong.

Five Arrows is the European corporate private equity business of Merchant Banking, the investment arm of the Rothschild & Co group. Based in London, Paris, Luxembourg and New York, the investment professionals at Five Arrows manage €2.8 billion of capital focused on investing in lower-middle market companies in Western Europe.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

Harris Williams’ 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 technology, data analytics, energy technology, fintech, public sector, and supply chain/logistics—with a dedicated healthcare technology (HCIT) practice. Across verticals, the firm 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 website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd 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 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.