CHICAGO and SAN DIEGO July 10, 2017 – Waud Capital Partners, a leading growth-oriented middle market private equity firm, today announced a strategic investment in ChiroTouch, the leading provider of electronic health records and practice management software for the chiropractic and other therapy markets.
George Ahn, an Operating Executive at Waud Capital with more than 25 years of software industry experience, has become ChiroTouch's new Chief Executive Officer and joined the Board of Directors as Vice Chairman. Mr. Ahn brings executive experience from his roles with leading software companies including IBM, PeopleSoft, Siebel Systems, TIBCO and TRIRIGA, and will lead ChiroTouch through its next phase of growth. Recent CEO Robert Moberg will remain actively involved in the company as President and will serve as a member of the Board of Directors.
ChiroTouch provides software and technology solutions specifically designed for the chiropractic sector, offering an integrated practice management solution enabling mission-critical applications including electronic health records, patient management, scheduling, billing, revenue cycle management and clinical care delivery. The company's solutions have been adopted by more than 11,000 clinics in the U.S., making ChiroTouch the clear market leader in the chiropractic space.
"ChiroTouch's goal is to continue to be the premier chiropractic software provider to the market and build on its impressive track record of success," said Mr. Ahn. "The company has become the most trusted solution within its specialty focus area, and has built an incredibly rich product offering that supports deep customer relationships. I look forward to working with Robert and the impressive team at ChiroTouch as we grow the company through significant investments that will broaden our offerings and deliver even greater value for customers."
Added Justin DuPere, Principal at Waud Capital: "Our partnership with ChiroTouch is the culmination of our strategy of matching experienced executive leadership with the best platforms for growth. ChiroTouch is an outstanding growth company, and George brings an impressive track record of building vertical-specific software businesses. We are tremendously excited to partner with both George and the rest of the management team to help ChiroTouch continue to achieve success."
Matt Clary, Partner at Waud Capital, said: "The WCP team has substantial relevant investing and operating experience in both vertically focused application software companies and providers of healthcare and related services. We are well versed in the increasing need for vital software to support practice growth and to operate seamlessly in an outpatient healthcare environment. We are confident that demand for technology in these markets will continue to increase substantially over time, and ChiroTouch is well positioned to capitalize on this trend."
ChiroTouch is the premier provider of chiropractic software technology solutions, including ChiroTouch Complete Practice Software and SmartCloud Chiropractic EHR Software. With industry-leading support, training and compliance expertise, ChiroTouch partners with practices of every type to help them easily automate operations, improve patient care and increase profitability. To learn more about the company, please visit www.chirotouch.com.
About Waud Capital Partners
Based in Chicago, Waud Capital Partners is a leading growth-oriented private equity firm with $1.8 billion in assets under management. Waud Capital partners with exceptional management teams to build market leading companies within two industries: healthcare services and business and technology services. Since its founding, Waud Capital has successfully completed more than 210 investments, including platform companies and follow-on opportunities.
For additional information on WCP, visit the firm's website at www.waudcapital.com.
Business Development Contact:
Phil Olson, Principal - Business Development
Philip Kemp, Principal - Investor Relations
Nick Rust, Prosek Partners
(212) 279-3115 ext. 252
Click to View