blogToday, HealthcareSource announced a definitive agreement to be acquired by Francisco Partners, a private equity firm. As President and CEO of HealthcareSource, I wanted to share what this means for our clients.

As a leader, I am proud. Proud of what our employees have done, proud of the relationships we’ve built with clients, and the value we’ve provided them. In the nearly seven years since I joined HealthcareSource, we have grown significantly from about 40 employees and 1,000 hospital clients to more than 200 employees and 2,500 hospital and non-acute care clients. We’ve grown from an applicant tracking company with two products to a talent management company with 11 products.

In the last few years, so many of our competitors have been acquired by larger companies and folded into their solutions. In some cases this was good for their clients, but in many cases it was not. Service levels changed, focus was lost, and product development slowed. Because we are being acquired by a private equity firm, our clients should experience none of this. It means that HealthcareSource will continue to operate as we do today, but with an increased ability to invest in new solutions and growth. Francisco Partners is one of the largest and most active technology-focused private equity firms in the world, and has deep expertise in healthcare IT. They support our strategy of providing a suite of talent management solutions built specifically for healthcare, and believe in our culture of providing great service.

For our clients, we know you want great products and great service. We know you want us to continue to enhance our products and deliver new ones. With new ownership, we get a boost of energy and resources that allow us to do just this. We are excited, energized, and just getting started! Thank you for helping us achieve this milestone for our company and employees.

If you have any questions about this transaction, please don’t hesitate to contact us at:

Peter Segall

About Peter Segall

Peter Segall is the President and Chief Executive Officer at HealthcareSource. He is responsible for leading company strategy and execution. He was previously the President, North American Higher Education and Operations at Blackboard Inc., a leading provider of e-Education enterprise software applications and services, where he had management responsibility and oversight for all aspects of the division's academic business and operations. Prior to that, Segall was the Executive Vice President and a board member at WebCT, Executive Director of Harvard University's Project ADAPT, and a Consulting Partner at Coopers & Lybrand LLP. He received his B.A. in Physics from Brown University and his Masters of Math and Science Education from the Harvard Graduate School of Education.