New capital positions Cantata to accelerate growth as behavioral health providers look to replace aging EHRs
MINNEAPOLIS and AUSTIN, Texas, Oct. 26, 2023 /PRNewswire-PRWeb/ -- TT Capital Partners (TTCP) today announced a majority investment in Cantata Health Solutions, a leading provider of healthcare technology solutions for providers of behavioral health, human services, acute care, and post-acute care. Cantata offers a complete platform, including an integrated electronic health records (EHR) system, revenue cycle management (RCM), and a suite of clinical solutions that are fully configurable. Its Arize EHR solution was built for the health and human services market and with the clinician in mind. Arize allows providers of all sizes and types to customize dashboards and configure workflows to meet their unique needs. Cantata is installed in more than 280 healthcare facilities across 45 states, as well as Canada, the Bahamas, Puerto Rico, and Guam.
"TTCP has made several investments in the behavioral health market, and we have been seeking a healthtech solution that we felt could compete against the legacy EHR vendors in this space," said TTCP Partner Ryan Engle. "Cantata's leadership team has a long history of success in behavioral health and a proven track record of bringing value-add solutions to market. Providers today demand modern technology tailored to their needs and world-class customer service committed to their success, and that's what Cantata delivers."
"TTCP's deep healthcare expertise, exceptional network, and strong history of healthcare investing, coupled with their growth mindset, makes them the perfect partner for Cantata," said Cantata CEO Alan Tillinghast. "We're excited about being able to grow, scale, and bring our modern solutions to more of the market. Clinicians have long deserved better, and we offer a modern EHR that brings clinicians and clients together."
"Arize is a uniquely flexible and user-friendly platform that allows us to create sophisticated clinical and billing workflows while offering both patients and providers the best possible experience," says David Schwam, CEO of WellQor, a national leader in quality online therapy and a Cantata customer. "The Cantata team consistently demonstrates its commitment to help us get the most out of their platform."
Healthcare Growth Partners served as exclusive financial advisor to Cantata. Nixon Peabody LLP provided legal advice to Cantata; and Faegre Drinker Biddle & Reath LLP served as legal advisor to TTCP. Financial terms of the transaction were not disclosed.
About Cantata Health Solutions
Cantata Health Solutions, a leading provider of healthcare management solutions, proudly partners with public sector, private non-profit, and for-profit healthcare organizations to enable the delivery of exceptional care. Our Arize EHR and management solution for healthcare is designed to cater to the unique needs of each facility or healthcare system, fostering enhanced client engagement across the continuum of care. By improving operational and clinical efficiency, we ensure predictable financial outcomes through advanced revenue recovery. Learn more at http://www.CantataHealth.com.
TT Capital Partners (TTCP) is a value-add healthcare investor that provides capital, expertise, and insight to healthcare technology and services companies that have the potential to become market leaders. With its exclusive focus on healthcare, extensive industry network, and deep investing and operating experience, TTCP invests in high-growth businesses that are innovating and disrupting how healthcare is delivered, managed, and consumed. Learn more at http://www.TTCapitalPartners.com.
SOURCE TT Capital Partners