Thursday, January 17, 2008

AdvancedMD Acquired By Private Equity Firm

Salt Lake City, Utah-based AdvancedMD Software said Thursday that the firm has been acquired by private equity firm Francisco Partners. Financial terms of the deal were not disclosed. According to AdvancedMD, John Trzeciak of Francisco Partners will become CEO of the firm. AdvancedMD was most recently headed by Jim Pack, and developed web-based, medical practice management software. The firm's software, which is available as a hosted, software-as-a-service offering, handled electronic medical record tools for physician's offices and third party billing services. The firm was venture backed by Dominion Ventures, Prospector Equity Capital, and Windward Ventures.