Rectangle Health, a leading provider of healthcare financial technology and patient engagement solutions, today announced a recapitalization by GI Partners, a leading private investment firm with deep healthcare technology and payments investing experience. GI Partners’ investment, in conjunction with existing investor TA Associates, a leading global growth private equity firm, will further accelerate Rectangle Health’s growth as the company continues to drive innovative consumer-centric solutions to the healthcare industry.
“It has been a pleasure partnering with TA Associates over the past four years to build Rectangle Health into a leader in the healthcare market. We are excited to create our next chapter in partnership with GI Partners and TA, with a continued focus on organic growth and M&A,” said Dominick Colabella, CEO of Rectangle Health. “Both GI and TA have a great record of successfully scaling software companies and we remain committed to developing innovative solutions that solve the practitioner’s existing operational problems and anticipate what they’ll need to thrive.”
Credit Suisse Securities (USA) LLC acted as lead financial advisor, and Robert W. Baird & Co acted as co-financial advisor to Rectangle Health. Goodwin Procter LLP served as legal advisor to Rectangle Health and TA Associates. Goldman Sachs served as financial advisor to GI Partners. Ropes & Gray LLP served as legal advisor to GI Partners. The Strawhecker Group served as payments industry consultant to GI Partners.