Jun 2019

Spectrum Equity Continues Partnership with Definitive Healthcare Post Advent Investment

Boston, MA - Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced that it has made an investment in Definitive Healthcare (“the Company”), a leading data and analytics provider across the healthcare ecosystem. Advent joins Founder/CEO Jason Krantz and Spectrum Equity (“Spectrum”), a leading growth equity firm, which originally invested in the Company in February 2015. Financial terms were not disclosed.

“We are very pleased to be partnering with Definitive Healthcare to pursue its next phase of growth,” said Bryan Taylor, Managing Partner at Advent. “We look forward to working with Jason, Spectrum and the outstanding Definitive team to continue to invest in the product innovation and sales and marketing that has driven the Company’s explosive growth.”

“I am proud of the success Definitive Healthcare has had to date, and we are very excited to partner with Advent to continue scaling our business,” said Krantz. “Advent’s deep industry expertise in information services and healthcare provides the resources and support to accelerate our product investments, both organically and through continued M&A. With Boston-based Advent and Spectrum, we feel incredibly lucky to have found partners that can drive continued growth for the Company and for our employees.”

Founded in 2011 by Krantz, Definitive Healthcare is the leading data-as-a-service provider to the U.S. healthcare industry, helping its clients size market opportunities, support strategic decision-making and drive sales and marketing. Among Definitive Healthcare’s 2,200+ clients are some of the world’s largest pharmaceutical and medical device companies, top healthcare technology companies, cutting-edge healthcare start-ups and the most forward-thinking healthcare providers. The Company operates throughout the U.S. and is based in Framingham, MA.

“Definitive Healthcare’s culture of innovation has created an unparalleled product that drives actionable insights for its loyal customer base,” said John Maldonado, Managing Partner at Advent. “We have long admired the uniqueness of Definitive Healthcare’s product and what the Company has built, and we plan to leverage our deep experience base in technology and healthcare to drive continued growth.”

"Definitive Healthcare has a proven track record of scaling successfully, and we remain extremely excited about the future growth prospects for the business,” said Jeff Haywood, Managing Director at Spectrum. “We are thrilled to welcome Advent to our partnership with Jason and the Definitive team as the Company builds upon its category leadership in the healthcare data industry.”

Advent seeks to build world-class businesses positioned for long-term success, and the firm has significant investment experience in the healthcare and technology sectors. Over the past 28+ years, the firm has invested $7.0 billion in 42 companies in the healthcare sector and $3.5 billion in 26 companies in the technology sector.

Definitive Healthcare’s financial advisor was Evercore and Latham & Watkins, LLP and Rich May served as the Company’s legal advisors. Weil, Gotshal & Manges LLP served as legal counsel for Advent International.

For further information about DH go to: www.definitivehc.com.