Bowstring Advises Partner Professional Solutions in its Merger with HCTec
February 3, 2014 | Atlanta, GA
Bowstring Advisors (“Bowstring”) served as the exclusive financial advisor to Partner Professional Solutions (“Partner”) in its recent merger with HCTec, LLC (“HCTec”). The combination brings together two of the industry’s leading healthcare technology solutions and staffing providers, focusing on the optimal launch, rollout, and utilization of technology-driven initiatives in healthcare organizations.
The combined company will be renamed HCTec Partners, to incorporate both companies’ historical success and highlight the mission to partner with and serve clients. HCTec Partners will be managed and led by a combination of upper management from both companies.
William Bartholomew, CEO of HCTec Partners, said, “We are thrilled about the combination of HCTec and Partner to form HCTec Partners. We believe the combination allows us to broaden our capabilities and better serve our collective clients, and creates an organization capable of providing the best healthcare technology solutions and staffing services.”
William Laverty, President of Partner’s Healthcare IT division, said, “HCTec has quickly become a leader in our industry, and their outstanding commitment to serving their clients, culture, and leadership made them the ideal merger partner in our minds. I was very impressed with the professionalism, counsel and support from the Bowstring Advisors team. I can’t thank the Bowstring team enough for their counsel, dedication and assistance in finding the right partner.”
Dave Phillips, Director at Bowstring Advisors, said, “We were delighted to work with Partner’s senior management team and vetted a number of great companies. Partner’s culture and service offerings align nicely with HCTec’s, and the two companies’ strong reputation and track record of growth make the combined organizations one of the premier providers of technology solutions for the healthcare sector.”
Jimmy Secretarski, Director at Bowstring Advisors, said, “Through our sector focus, we were able to quickly identify HCTec as the best fit for the Partner team. We’ve known the principals for a long time and could credibly recommend them and work with them to get a transaction done that met the objectives of everyone.”
Partner Professional Solutions’ merger with HCTec was effective November 15, 2013. Terms of the transaction were not disclosed.
I was very impressed with the professionalism, counsel and support from the Bowstring Advisors team. I can't thank them enough for their counsel, dedication and assistance in finding the right partner.
Partner's Healthcare IT Division