New Investment to Accelerate Product Expansion, Customer-Facing Talent Acquisition, and Industry-Specific Data and Intelligence Solutions
FRAMINGHAM, MA – June 7, 2019 – Definitive Healthcare, the leading provider of data, intelligence, and analytics on the healthcare provider market, today announced that Advent International, one of the largest and most experienced global private equity firms, joins Founder and CEO Jason Krantz and Spectrum Equity as an investor in the Company. Terms of the deal were not disclosed.
“We have built our team, resources, and product lines in direct response to the needs of our customers. In a rapidly changing healthcare market, simplifying complexity through broad and accurate data and analytics has been the strongest driver of Definitive’s success. Today’s investment allows us to further extend our customer commitment by accelerating product development and offering even deeper insights in the verticals we serve,” said Krantz. “We couldn’t possibly be more enthusiastic about our new partnership with Advent. Their significant focus in the healthcare and IT segments makes them an excellent resource as we work to grow our customer-facing teams, expand our solutions, and broaden the markets we address in the years ahead.”
Founded in 2011 by Krantz, Definitive Healthcare is the leading data-as-a-service provider to the U.S. healthcare industry, helping its clients size market opportunities, support strategic decision-making, and drive sales and marketing. Among Definitive Healthcare’s 2,200+ clients are some of the world’s largest pharmaceutical and medical device companies, top healthcare technology companies, cutting-edge healthcare start-ups, and the most forward-thinking healthcare providers.
“Definitive Healthcare’s culture of innovation has created an unparalleled product that drives actionable insights for its loyal customer base,” said John Maldonado, Managing Partner at Advent. “We have long admired the uniqueness of Definitive Healthcare’s product and what the Company has built, and we plan to leverage our deep experience base in technology and healthcare to drive continued growth.”
“Definitive Healthcare has a proven track record of scaling successfully, and we remain extremely excited about the future growth prospects for the business,” said Jeff Haywood, Managing Director at Spectrum. “We are thrilled to welcome Advent to our partnership with Jason and the Definitive team as the Company builds upon its category leadership in the healthcare data industry.”
Definitive Healthcare’s financial advisor was Evercore and Latham & Watkins, LLP and Rich May served as the Company’s legal advisors.
“With Boston-based Advent and Spectrum, and the impressive investment teams that will support our business directly, we feel incredibly lucky to have found partners that can help drive continued growth for our company, our customers, and our employees,” concluded Krantz.
About Definitive Healthcare
Definitive Healthcare is the leading provider of data and intelligence on hospitals, physicians, and other healthcare providers. Its product suite provides the most comprehensive and highest quality data available anywhere on 8,800 hospitals and IDNs; 148,000 physician groups; 1.7 million physicians, nurses, and allied health professionals; 11,200 ambulatory surgery centers; 14,600 imaging centers; 91,600 long-term care facilities; 40,000 clinics; 1,400 ACOs and HIEs; more than 4 billion commercial medical and Rx claims; 115,000 clinical trials; and 900 Canadian hospitals. The company’s data provides its 2,200+ clients with the analytics and insight needed to effectively segment and research the healthcare provider market. Definitive Healthcare is backed by Advent International and Spectrum Equity. For more information, or to trial the service, visit https://www.definitivehc.com/.