Orchard Software announces its acquisition by Francisco Partners private equity firm— poised for future growth and innovation.
Orchard Software, an award-winning laboratory information system vendor with more than 1,600 clients throughout the United States, Canada, Bahamas, and US Virgin Islands, has been acquired by Francisco Partners, a leading technology-focused, private equity firm.
“Francisco Partners will provide capital and expertise to enable Orchard to grow at a faster pace and continue to develop its newer web-based products in an industry that has lagged behind in adoption of cloud-based software,” says Rob Bush, Orchard Software’s Founder and exiting CEO.
As Bush retires as CEO, Orchard welcomes Billie Whitehurst. Whitehurst has a proven track record in driving innovation, generating rapid growth, and improving profitability for emerging growth companies. She brings more than 20 years of leadership and execution experience in healthcare, previously holding executive roles at Netsmart, Change Healthcare, and McKesson.
“Francisco Partners’ deep experience in healthcare technology and proven track record in nurturing and growing technology businesses will enable Orchard Software’s loyal base of employees to continue delivering market-leading solutions and new innovations,” explains Whitehurst.
Curt Johnson, Chief Operating Officer at Orchard Software, states, “With FP’s investment and fresh leadership, Orchard is poised for exciting new opportunities. We already have the best products and the best people in the LIS industry. Now, we have additional resources to grow and innovate our products and continue to support our customers in the way they are accustomed.”
“Orchard has been a pioneer in the LIS industry, developing market-leading products and maintaining strong, long-standing customer relationships,” explains Jonathan Murphy of Francisco Partners. “They are well-positioned to continue to drive product innovation in the LIS market, and we are excited about the opportunity in POCT and partnering with the team to accelerate the company to new levels of growth and impact for laboratorians across the US.”
Orchard attributes much of its success to collaborative relationships with its customers and is proud of the products it supports. While this change brings new opportunities, Orchard’s leadership feels strongly that its culture and focus will remain steadfast and the company will progress under its new ownership.
About Francisco Partners
Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch 20 years ago, Francisco Partners has raised over $14 billion in capital and invested in more than 200 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.