DataLink Software, a provider of integrated population health applications for healthcare providers and payers, raised a senior secured credit facility led by Varagon Capital Partners, with participation from Comvest Partners and BC Partners Credit. This collaborative partnership will be used to pursue accretive acquisitions.
In addition, DataLink received a growth investment from an investor group led by DWS’s global private equity business. DWS joined existing investor Revelstoke Capital Partners. With this investment, DataLink will bolster its provider engagement services and pursue strategic M&A initiatives, focused on acquisitions that enhance product functionality to benefit new and existing customers.
“DataLink is pleased by the addition of such accomplished investors to our team as we enter our next phase of transformative growth,” Kevin Steele, CEO of DataLink, said. “Since Revelstoke’s growth investment in 2018, DataLink has more than tripled its revenue and has expanded the population base we serve to include Medicare Advantage, Managed Medicaid and commercial patients. We plan to build on our success with our leading Evoke360 platform, which aggregates data in a single source, offering a real-time view of a patient’s health, and delivers the highest level of quality, provider engagement and user satisfaction.”
“We look forward to working with this group of high-quality investors as we continue to guide DataLink through its next phase of growth and development,” Russell Cassella, a managing partner at Revelstoke, said. “Under Kevin and his team’s leadership, DataLink has undergone a dramatic transformation to become a leading SaaS platform that has resulted in greatly improved outcomes for over 10 million patients in value-based care settings. We expect that DataLink will continue to expand market share and deliver data-driven insights and workflows to close gaps in care, improve health outcomes and ensure success for all constituents across the care continuum.”
“We are thrilled to partner with Revelstoke and DataLink’s entire management team as we continue to build a premier, comprehensive population health platform. DataLink is well-positioned for continued growth as the leading platform for managing an increasingly complex healthcare ecosystem,” Kumber Husain, head of private equity, Americas for DWS, said.
McGuireWoods acted as legal counsel to DataLink.