PALO ALTO, Calif., Dec. 20, 2010 /PRNewswire/ -- Huntsman Gay Global Capital, a leading middle market private equity firm, today announced the completion of a recapitalization of Sunquest Information Systems® Inc., a leading provider of laboratory information systems. The recapitalization, led by Huntsman Gay, was done in partnership with Vista Equity Partners, which has owned the company since 2007 and is retaining a significant stake in the business, along with several co-investors. Terms of the transaction were not disclosed.
Founded in 1979 and headquartered in Tucson, Arizona, Sunquest's software solutions manage mission critical operations and workflow processes in and around the laboratory for healthcare providers worldwide. Customers include leading academic and medical research centers, integrated delivery networks, community based hospitals, and independent laboratories. The company has additional locations in Raleigh, North Carolina, India, and the U.K.
"Earlier this year, we began to review a wide range of options for bringing in an investment partner who would enable Sunquest to realize its full potential," said Richard Atkin, president and CEO of Sunquest Information Systems. "It is important that our partners share our goal of building a world-class, customer-centric company. Huntsman Gay was selected in large part because they are focused on driving long term value through operational improvements, and because they have a deep understanding of the opportunity in front of us and our path to continued success."
"Lab test results impact almost 80 percent of all healthcare decisions, making effective laboratory management essential," said Steve Young, Managing Director of Huntsman Gay. "Sunquest's best in class software solutions have made it a leader with a loyal, global customer base. The management team is executing a strategic growth plan that has positioned the company to continue growing market share as diagnostic testing expands. We are very excited to partner with Vista on this investment."
"We look forward to a successful partnership with Huntsman Gay," said Robert F. Smith, Chairman and CEO of Vista Equity Partners. "From day one, it was clear Steve Young and the Huntsman Gay team are aligned with our vision, and will be strong supporters of the management team as Sunquest continues to grow and innovate for many years to come."
About Sunquest Information Systems
Sunquest Information Systems, Inc. delivers market leading diagnostic information technology and outreach solutions designed and implemented to fulfill the business objectives of today's healthcare leaders. Headquartered in Tucson, Arizona, the company has offices in Raleigh, North Carolina; Norwich, United Kingdom; and Bangalore, India. Sunquest serves the global marketplace with reliable technology required for mission critical applications. These solutions provide the foundation to optimize the healthcare experience, deliver safe, effective, and timely patient care, expand community reach, and transform the delivery of healthcare with predictive and personalized medicine.
For more information please visit www.sunquestinfo.com, or phone +1 (800) 748-0692.
About Vista Equity Partners
Vista Equity Partners based in San Francisco with offices in Chicago and Austin, currently invests over $2 billion in capital committed to dynamic, successful technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support toward companies realizing their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing.
For more information visit www.vistaequitypartners.com.
About Huntsman Gay Global Capital
Huntsman Gay Global Capital is a private equity firm that brings unrivaled experience to the middle market—offering all the advantages of both a strategic and a financial buyer in one firm. Co-founded by Jon M. Huntsman, one of the world's leading industrialists, and Robert C. Gay, a former managing director of Bain Capital, the firm focuses on middle market leveraged buyouts and growth equity investments. For more information, please visit www.hgequity.com.
SOURCE Huntsman Gay Global Capital