Coalesce Capital (“Coalesce”), a private equity firm focused on investing in human capital-driven and technology-enabled services companies, today announced it has acquired a majority stake in DAS Health Ventures (“DAS Health”), a leading provider of healthcare IT and business solutions. Sheridan Capital Partners (“Sheridan”), which invested in DAS Health in 2021, will retain a minority ownership position and continue to support the company’s growth.
DAS Health provides a comprehensive suite of IT, cybersecurity, revenue cycle management, and business solutions to thousands of healthcare organizations across North America, streamlining workflows, increasing productivity, and improving patient care. Coalesce will support DAS Health’s growth by investing in technology, talent, and strategic acquisitions, further strengthening the company’s ability to deliver value to healthcare organizations.
“We are thrilled to welcome Coalesce Capital as we embark on this next chapter for DAS Health,” said Michelle Jaeger, President & CEO of DAS Health. “Their investment underscores our commitment to delivering innovative solutions that help healthcare organizations operate more efficiently and improve patient care. With Sheridan’s continued support, we are well-positioned to broaden our reach and help even more providers achieve operational excellence and better outcomes.”
“As healthcare organizations face growing challenges in patient data management, regulatory compliance, and operational demands, DAS Health stands out as a trusted partner solving these critical pain points,” said Stephanie Geveda, Founder & Managing Partner at Coalesce Capital. “We are excited to invest in DAS Health, whose proven track record for delivering reliable, mission-critical solutions has already improved care for over 15 million patients. We look forward to supporting their continued growth.”
“DAS Health’s achievements reflect the dedication of Sheridan and the entire DAS Health team, who have built a platform that addresses the most urgent needs of healthcare providers,” added Austin Heiman, Managing Director at Coalesce Capital. “We are excited to partner with Sheridan and the team to broaden their solutions and continue to help providers navigate the increasingly complex healthcare technology landscape.”
“Since partnering with DAS Health in 2021, we have seen the company significantly expand its solutions and deliver increasing value to a growing client base,” said Jonathan Lewis, Partner at Sheridan. “We are proud of the DAS Health team’s progress and look forward to supporting their continued expansion alongside Coalesce to deliver even more impact for healthcare organizations.”
Houlihan Lokey served as financial advisor and McDermott Will & Emery LLP served as legal advisor to DAS Health and its shareholders. Lazard served as financial advisor and Latham & Watkins, LLP served as legal advisor to Coalesce Capital. Financial terms of the transaction were not disclosed.
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