Houlihan Lokey is pleased to announce that we recently advised NTT DATA, Inc. on the sale of one of its subsidiaries and its healthcare software assets to GPB Capital Holdings, LLC (GPB), with the company being renamed Cantata Health, LLC. The acquired software assets include intellectual property, customer contracts, and human resources. All other aspects of NTT DATA's industry-leading healthcare practice remain with NTT DATA, allowing NTT DATA to focus on the IT services market, which is the core of its business. The transaction closed on March 31, 2017.
Cantata Health designs, develops, installs, and supports advanced revenue cycle management (RCM) and electronic medical record (EMR) applications for acute and post-acute care hospitals, and long-term care facilities. The acute/post-acute applications acquired by Cantata Health will continue to be called "Optimum," while the long-term care application suite will be marketed under the name "NetSolutions."
GPB is a New York-based global asset management firm with a focus on income-producing private equity and real estate. GPB provides their portfolio company operators with the strategic planning, managerial insight, and capital needed to enable strong businesses to achieve a new level of growth and profitability. GPB-sponsored entities have raised over $1 billion in gross capital to date and have invested in 70 portfolio companies.
The sale of the NTT DATA assets represents another successful transaction for Houlihan Lokey in the healthcare RCM and healthcare information technology (HCIT) sectors. It represents the seventh healthcare RCM transaction Houlihan Lokey has advised since January 1, 2016.
Houlihan Lokey's Healthcare Group is a recognized leader in M&A advisory and capital-raising services, providing advice to healthcare services, managed care, senior housing, healthcare technology, and life sciences companies. With more than 30 investment bankers in Chicago, Dallas, and New York, Houlihan Lokey's Healthcare Group is among the largest dedicated healthcare investment banking groups in the country. In 2016, the group closed 41 transactions and was ranked the No. 1 advisor for all U.S. healthcare M&A transactions by Thomson Reuters. Houlihan Lokey's Healthcare Group has closed more than 300 M&A healthcare transactions since inception.