The Firm is representing Waystar, a portfolio company of EQT, Canada Pension Plan Investment Board and Bain, in its definitive agreement to acquire Patientco. The transaction is subject to regulatory approval and customary closing conditions.
Patientco is a vertically-integrated payment technology company that was founded specifically to rethink the patient payment experience in healthcare. Patientco improves financial care across the entire patient journey, from pre-service to post-service, while increasing payments and revenue for today’s top health systems.
Waystar provides next-generation, cloud-based technology that simplifies and unifies healthcare payments. The Waystar platform removes friction in payment processes, streamlines workflows and improves financials for providers in every care setting. The Waystar platform supports more than 500,000 providers, 1,000 health systems and hospitals, 5,000 payers and health plans and processes claims for approximately 40% percent of the U.S. population annually.
The Simpson Thacher team includes Michael T. Holick, Mark Myott, Fiona Gillan and Grace Bowers (M&A); Eli Isak and Whitney Bosworth (Credit); Jonathan Goldstein, Adam Hersch and Lina Pan (Tax); David Rubinsky, Caitlin Fitzgerald and Allison Sutherland (Employee Benefits and Executive Compensation); Vanessa Burrows (Healthcare); Lori Lesser, Corina McIntyre and Hilary Wong (Intellectual Property); and Sara Razi, Kelly Karapetyan and Jonathan Porter (Antitrust). Summer Associates Shirley Matcha, William Lyoo and Mohanad Salaimi provided valuable assistance.