BELLEVUE, Wash., Jan. 4 /PRNewswire/ -- LYNX Medical Systems (LYNX), a leading provider of integrated healthcare documentation and revenue management solutions, today announced that it had been acquired by Francisco Partners. This is the first acquisition in the healthcare arena for Francisco Partners, a leading technology-focused private equity firm based in Menlo Park, California. Dr. Mason A. Smith, founder and CEO of LYNX, will continue to provide vision and guidance as a member of the LYNX Board of Directors and will chair the LYNX Medical Advisory Board. Christy Martin, chief financial officer and president of LYNX Coding Division and Mike DeTolla, president of LYNX Software Division will continue in their current roles.
LYNX’ success in the outpatient Emergency Department (ED) market was the foundation for Francisco Partners’ investment. “By offering high quality software and coding services, LYNX Medical Systems has sustained solid growth while maintaining a staunch commitment to client needs,” said Ezra Perlman, principal of Francisco Partners. “FP [Francisco Partners] intends to leverage this success with additional resources so that LYNX can emerge as a leader in revenue cycle management solutions in healthcare.”
John Trzeciak will continue Dr. Smith’s vision by filling the role of LYNX chief executive officer. “Our relationship with FP will enable LYNX to continue to pursue our aggressive growth strategy,” said Mr. Trzeciak. “LYNX will continue its long-term commitment to providing our clients with quality software and coding services. With FP’s investment, our commitment to our clients and partners is further strengthened.”
Mr. Trzeciak comes to LYNX with more than 20 years of operating, advisory and board experience in medical software companies. His experience includes co-founding Health Systems International Inc., which was instrumental in developing the Diagnoses Related Groups (DRGs) that were adopted by Medicare as the basis for hospital reimbursement. HSI was later acquired by 3M.
“Through the FP network, the opportunities available to LYNX are vast,” stated Dr. Mason Smith. “LYNX can leverage this network to further develop unsurpassed products and service, while maintaining in-depth customer focus. By employing FP resources, LYNX can accelerate and execute this vision with greater strength and agility.”
About LYNX Medical Systems
Since 1984, LYNX Medical Systems is a leader in providing documentation and revenue management services and products for healthcare organizations. LYNX Medical Systems assists healthcare organizations address revenue cycle management issues through improved documentation, appropriate code assignment and valuable data analysis tools. LYNX services and software products streamline processes, promote efficiency, protect revenue and reduce costs by facilitating the exchange of information while enhancing the clinical care process. For more information, contact LYNX Medical Systems at 425-641-4451, email info@lynxmed.com or visit our Web site at www.lynxmed.com.
About Francisco Partners
With $2.5 billion of committed capital, 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 majority and minority investments in private companies, public companies, and divisions of public companies, with transaction values ranging from $30 million to $2.0 billion. The principals of Francisco Partners have a proven track record, having invested in excess of $3.0 billion of equity capital in over 50 technology companies. For additional information, visit www.franciscopartners.com.
LYNX Medical Systems
CONTACT: Cherie Wentz Blehm, Director of Marketing of LYNX MedicalSystems, +1-425-641-4451, ext. 2017, or cblehm@lynxmed.com
