Arlington Capital Partners (“Arlington Capital”), a Washington, DC-based private equity firm, announced today that Ontario Systems (“Ontario” or the “Company”) has executed a definitive agreement to be acquired by New Mountain Capital. Ontario Systems is a leading provider of enterprise software that automates operations and accelerates revenue recovery for clients in the healthcare, accounts receivable management (ARM), and government markets. Terms of the transaction were not disclosed.
Matt Altman, a Managing Partner at Arlington Capital said, “Arlington’s investment in Ontario Systems continues our track record of successful partnership with founding management teams to drive transformational growth in healthcare software companies. The investments in technology and people that we have made over the course of our investment have further distinguished Ontario as the leader in revenue cycle management enterprise software across the large and growing healthcare, government, and accounts receivable management markets.”
“Our relationship with Arlington Capital Partners has been outstanding,” said Ron Fauquher, CEO and Co-Founder of Ontario Systems. “With Arlington’s assistance, we have successfully expanded our healthcare-market footprint, entered government markets, doubled our revenues, and expanded our reach to include more than 1,200 clients. We are proud of our progress and achievement of the goals we had previously set, and we thank Arlington for their support in helping drive our strategic growth initiatives. As we take the next evolutionary step, we look forward to New Mountain Capital’s support and partnership.”
Malcolm Little, a Partner at Arlington Capital said, “It has been a pleasure working with the entire team at Ontario Systems over the last several years. The collaboration between the Arlington and Ontario teams as well as the Company’s significant organic and inorganic growth resulting therefrom exemplify Arlington’s partnership-oriented investment approach. We look forward to following Ontario’s continued success while working alongside New Mountain Capital.”
About Arlington Capital Partners
Arlington Capital Partners is a Washington, DC-based private equity firm that is currently investing out of Arlington Capital Partners V, L.P., a $1.7 billion fund. The firm has managed approximately $4.0 billion of committed capital via five investment funds. Arlington is focused on middle market investment opportunities in growth industries including healthcare, government services and technology, aerospace & defense, and business services and software. The firm’s professionals and network have a unique combination of operating and private equity experience that enable Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company’s position as leading competitors in their field. www.arlingtoncap.com
About Ontario Systems
Established in 1980, Ontario Systems is a leading provider of enterprise software designed to improve operations and revenue recovery for clients in the healthcare industry and the accounts receivable management (ARM) market as well as federal, state, and local governments. Headquartered in Muncie, IN, with additional offices in Vancouver, WA, and Albuquerque, NM, and 500+ employees in 28 states, Ontario Systems offers a full portfolio of leading software platforms including the Artiva family of products, FACS, TCS, RevQ®, and Ontario Omni®. Ontario Systems serves 600+ hospital network customers—including 5 of the 15 largest hospital networks—that actively manage over $40 billion in receivables collectively, as well as 8 of the 10 largest ARM companies and more than 600 federal, state, and municipal government clients in the U.S. Ontario Systems’ portfolio also includes Justice Systems solutions such as FullCourt Enterprise™, whose integrated technologies empower state and local governments to manage court cases, process online payments, and automate revenue recovery processes.
About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $20 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.