GI Partners and TA Associates have announced that they will acquire the stake held in Netsmart Technologies by healthcare IT company Allscripts Healthcare Solutions.
Netsmart, based in Overland, Kan., is a provider of software and technology solutions designed for the health and human services and post-acute sectors.
GI Partners, based in San Francisco, is a middle-market private equity firm active in several sectors, including healthcare.
TA Associates, based in Boston, invests in healthcare and several other sectors.
GI Partners acquired an initial stake in Netsmart in 2016. This new acquisition will make GI Partners the majority owner of Netsmart.
The transaction is expected to be completed this month. Financial terms were not disclosed.