Singapore: Temasek picks majority stake in Global Healthcare Exchange

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Singapore’s state investment fund Temasek Holdings has acquired a majority stake in Global Healthcare Exchange (GHX), a provider of connected, intelligent healthcare supply chains. Financial details of the transaction were not disclosed.

A Wall Street Journal report pegged the transaction value at $1.8 billion, citing sources with knowledge of the matter.

PE firm Thoma Bravo, which acquired GHX in 2014, will retain a minority position, while current GHX senior management team will continue to lead the company.

GHX, headquartered in Louisville, Colorado, has employees in the US, Canada and Europe, and is known for its electronic trading exchange, electronic payment solution and supply chain solutions.

It creates and connects the healthcare industry’s largest collaborative community of trading partners, including providers, suppliers, distributors and group purchasing organisations (GPOs), enabling them to improve their business processes based on more timely and accurate data and greater automation.

“GHX maintains a strong position in North America and Europe with solutions that span the breadth of the healthcare supply chain,” said Bruce Johnson, CEO and president of GHX.

“The addition of Temasek to GHX’s ownership will help us continue to grow and deliver on our commitment to drive improved efficiency and results in healthcare.”

“Our commitment to working collaboratively with existing management, strengthening operational processes, and generating strong returns for our companies and investors is a practice we look forward to continuing as a minority partner in GHX with Temasek,” said Seth Boro, managing partner of Thoma Bravo.

Thoma Bravo is a PE firm focused on the software and technology-enabled services sectors. It maintains a series of funds representing more than $17 billion in capital commitments. Past and present portfolio companies include Blue Coat Systems, Deltek, Digital Insight, Global Healthcare Exchange, Hyland Software, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems and TravelClick.

JP Morgan Securities, Jefferies Finance, Credit Suisse Securities, Golub Capital and Ares Management are providing committed financing for the transaction.

The deal saw JP Morgan Securities, Credit Suisse Securities and Cleary Gottlieb Steen & Hamilton advise Temasek.  Thoma Bravo’s financial advisor on the transaction is Goldman Sachs, while Kirkland & Ellis is serving as its legal advisor.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.