Private Equity Firm Francisco Partners Set to Make 15x Return on QGenda Investment
- Francisco Partners sells QGenda to Hearst for $2-$3 billion
- 15-fold return on investment in 8 years
- QGenda provides healthcare workforce management software
- Company founded by Greg Benoit in 2006
- Hearst’s healthcare information business acquires QGenda
Private equity firm Francisco Partners has agreed to sell healthcare workforce management software provider QGenda to media company Hearst for a deal valued at between $2 billion and $3 billion. This marks a more than 15-fold return on their initial investment in the company, made eight years ago. Founded by Greg Benoit in 2006, QGenda provides software solutions for hospitals and healthcare providers to manage workforce scheduling, credentialing, and compensation management. The company will become part of Hearst’s healthcare information business. Francisco Partners has experience in owning and exiting healthcare technology companies, having previously backed GoodRx, Edifecs, CoverMyMeds, and Nextech Systems.
Factuality Level: 9
Factuality Justification: The article provides accurate and objective information about QGenda’s sale to Hearst, its software offerings, and Francisco Partners’ involvement in the company’s growth. It also includes relevant background information on Francisco Partners’ experience in healthcare technology investments.
Noise Level: 6
Noise Justification: The article provides relevant information about a private equity deal involving QGenda, a healthcare workforce management software provider, and its acquisition by Hearst. However, it lacks in-depth analysis or exploration of the broader implications of this transaction on the healthcare industry or the market trends driving demand for such software. It also does not offer actionable insights or new knowledge beyond the basic details of the deal.
Public Companies: GoodRx (GDRX), McKesson (MCK)
Private Companies: Francisco Partners,QGenda,Hearst,Schedule360,OpenTempo,Iconiq Capital,RedSail Technologies,Leonard Green & Partners,Edifecs,CoverMyMeds,Nextech Systems,THL
Key People: Greg Benoit (Founder), Ezra Perlman (Co-President), Duncan James (Operating Partner)
Financial Relevance: Yes
Financial Markets Impacted: Private equity firms Francisco Partners and Iconiq Capital, healthcare technology companies QGenda and Hearst
Financial Rating Justification: The article discusses a deal between private-equity firm Francisco Partners selling healthcare workforce management software provider QGenda to media company Hearst for a valuation of $2 billion to $3 billion. This impacts the financial markets as it involves large private equity firms and healthcare technology companies, which are relevant to financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
Deal Size: The deal size is between $2 billion and $3 billion.
Move Size: No market move size mentioned.
Sector: Healthcare
Direction: Up
Magnitude: Medium
Affected Instruments: Stocks
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