Behavioral Health Leaders Combine to Provide Best-in-Class Technology and Services
NASHVILLE, Tenn. and ROCKVILLE, Md., Aug. 25, 2020 /PRNewswire/ — Warburg Pincus, a leading global private equity firm focused on growth investing, and Martis Capital, a private equity firm focused exclusively on the healthcare sector, have agreed to merge their respective portfolio companies, Qualifacts and Credible Behavioral Health. The combination of these best-in-class technology companies will elevate the experience of behavioral health and human service providers while positioning the combined company for continued innovation and thought leadership in the market.
The company will be led by David Klements, CEO of Qualifacts. Matthew Dorman, CEO of Credible, will continue as a strategic advisor to the company.
“Qualifacts and Credible are highly regarded in the behavioral health software industry. This transformational merger will deliver more value to the behavioral health customers we serve while creating outstanding opportunities for our employees. Both companies share a mission-driven culture and a commitment to operational excellence. I look forward to leveraging best practices as we continue to grow as one firm,” said Mr. Klements.
Combined, the company serves more than 800 behavioral health agencies nationwide, significantly increasing the scale and scope of its products and capabilities.
“We have long admired the strength and capabilities of the Credible platform and are excited by the significant opportunities that will result from this groundbreaking merger,” said Andrew Park, Managing Director, Warburg Pincus. “We look forward to our partnership and to supporting the combined company in its next phase of growth and innovation,” added Amr Kronfol, Managing Director, Warburg Pincus.
“We are excited to bring together two leading providers of software services to the behavioral health market, and are looking forward to partnering with Qualifacts, its management team, and Warburg Pincus to support the development and delivery of mission-critical technology to the industry,” said Shahab Vagefi, Partner, Martis Capital.