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HCAP Partners Announces New Investment in TCS Healthcare Technologies

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HCAP Partners, a California-based private equity firm and recognized impact investor, announced its investment in TCS Healthcare Technologies, a leading developer of population health and managed care software. Terms of the investment were not disclosed. Principal Hope Mago led the HCAP Partners’ investment and joined the company’s board of directors.

TCS Healthcare Technologies was founded in 1983 and is based in Auburn, California. The company’s ACUITY suite of products supports managed care workflows for a variety of risk-bearing organizations including health plans, self-funded organizations, third-party administrators, and accountable care organizations. Serving clients in both the public and private sectors, the company’s software is designed by and developed for clinical end users performing utilization review, appeals, case management, population health, and quality program interventions. The majority of TCS clients hold NCQA and URAC accreditations. HCAP Partners’ investment provides growth capital for the company to support the development of its ACUITYnxt software platform, a SaaS-based managed care software solution that surpasses the latest industry requirements while providing an end user experience that is intuitive and efficient.

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“HCAP Partners’ investment has provided not only capital for growth but also a team that continues to act as a valuable and trusted resource,” stated Deborah Keller, RN and CEO of TCS Healthcare Technologies. “They were extremely easy to work with during the transaction and they sought to really understand TCS’ culture. We are pleased to have their ongoing support as we continue to grow.”

Hope Mago added, “TCS Healthcare’s experienced senior leadership, strong industry reputation, impressive customer retention rate, and high customer satisfaction scores made this an attractive investment for HCAP Partners. We believe there is an opportunity to leverage these features to scale the company in the fast-growing population health segment.”

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In connection with this transaction, TCS Healthcare Technologies is also pleased to announce the addition of Scott Paddock, President of GuideWell Connect, to its board of directors. Scott brings more than 15 years of experience in senior roles in healthcare, previously serving as President and Chief Operating Officer for COTA Healthcare, a healthcare data and analytics company that supports providers, payers, and life science companies focused on diagnosing and treating complex diseases. Prior to COTA, Paddock served as President for Homecare Homebase, a Dallas-based provider of home health, electronic medical record (EMR), mobility, financial, clinical, compliance, analytical, and educational solutions, and previously served MedeAnalytics as Executive Vice President and General Manager of its Health Plan Solutions division.

Whitehawk Advisory served as exclusive financial advisor to TCS Healthcare Technologies in connection with the transaction. The transaction was led by Whitehawk Advisory Managing Director Alex Klingelberger. 

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