LeanTaaS Holdings, Inc., a provider of cloud software solutions for optimizing hospital operations and capacity management, announced that Bain Capital Private Equity has acquired a majority stake in the Company from existing investors Insight Partners and the Growth Equity business within Goldman Sachs Asset Management.
The transaction includes a significant growth capital commitment from Bain Capital that will enable LeanTaaS to continue to accelerate its growth trajectory and suite of cloud software solutions. Insight Partners and Goldman Sachs will each retain a material stake in the Company, which will continue to be led by its current management team, including Founder and CEO Mohan Giridharadas. Financial terms of the private transaction were not disclosed.
LeanTaaS’ cloud-based iQueue solutions help hospitals in their approach to care delivery which may improve capital and scarce resource decision-making by optimizing the utilization of critical assets including operating rooms, infusion chairs, and hospital beds. Leveraging a combination of AI, data science, and lean optimization principles, LeanTaaS has designed a set of predictive analytics solutions that integrate into workflows and enable health systems to unlock capacity, reduce patient delays, and grow revenue, while improving patient and provider care experiences.
As a result, the Company delivers a compelling value proposition to the entire care ecosystem. Its long-term vision is to manage the operational application of patient flow and capacity optimization across the continuum of care on one single platform, effectively becoming the “air traffic control center” for a health system.
iQueue for Operating Rooms is used by more than 2,500 ORs across 47 health systems to improve surgical capacity utilization, attract new surgical volume, and improve the patient experience. iQueue for Infusion Centers is used by nearly 500 infusion centers, with over 10,000 chairs across 105 health systems with a customer base that includes over 80 percent of the National Comprehensive Cancer Network and nearly 60 percent of National Cancer Institute-Designated Cancer Centers.
The investment is expected to be completed in the third quarter of 2022 and is subject to regulatory approvals and customary closing conditions.