Dairyland Healthcare Solutions Acquired By Francisco Partners
June 28, 2007 – Dairyland Healthcare Solutions announced that it has been acquired by Francisco Partners (FP), a leading technology-focused private equity firm based in Menlo Park, California.
Dairyland’s reputation and long-term success in the community and specialty hospital market was the foundation for FP’s investment. “By offering excellent value in products and services and a long-term commitment to client satisfaction Dairyland has established a solid track record of growth,” said Ezra Perlman, Partner at Francisco Partners, “We intend to leverage this success with additional resources so that Dairyland can accelerate its growth and become the leader in its market.”
Over the past five years Dairyland’s annual growth rate has exceeded 16%, and Dairyland was recognized as “Best in KLAS” for three consecutive years and in the top two for five consecutive years. “I am very proud of what we have accomplished and believe the investment in Dairyland by FP is in the best interest of our customers and employees,” said Alan Grundei, Dairyland’s CEO & President, “FP’s access to capital and other resources will provide the impetus to sustain accelerated growth.” Grundei who has been the CEO & President of Dairyland for the past seven years will be leaving to pursue other opportunities and will be replaced by John Trzeciak. “Alan’s leadership during the last seven years has been key to Dairyland’s growth and instrumental in positioning it for the future,” said Trzeciak, “We are grateful for what he has done for the company and wish him the best.”
Mr. Trzeciak comes to Dairyland with more than 20 years of operating, advisory, and board experience in healthcare IT. His experience includes co-founding Health Systems International Inc. (HSI), which was instrumental in developing and maintaining the Diagnoses Related Groups (DRGs) that were adopted by Medicare as the basis for hospital reimbursement. HSI was acquired by 3M. Recently he served as Interim CEO of LYNX Medical Systems immediately following it’s acquisition by Francisco Partners. “Dairyland will continue its long-term commitment to providing our clients with quality software, services, and support,” said Trzeciak, “While our relationship with Francisco Partners will enable Dairyland to pursue an aggressive growth strategy.”
About Francisco Partners
With $5 billion of capital under management, Francisco Partners is one of the world’s largest technology-focused private equity funds. The firm was founded to pursue structured investments in technology companies undergoing strategic, technological, and operational inflection points. Francisco Partners targets control investments in private companies, with transaction values ranging from $30 million to $2 billion. The principals of Francisco Partners have a proven track record, having invested in excess of $3 billion of equity capital in over 50 technology companies. For additional information, visit www.franciscopartners.com.