BOSTON, June 8, 2021 /PRNewswire/ -- Abry Partners,
a leading Boston-based private
equity firm, announced today that it has entered into a definitive
agreement to sell Sentry Data Systems, Inc., the nation's leader in
pharmacy procurement, compliance and utilization management, to
Craneware plc (AIM: CRW.L), a market leader in Value Cycle
solutions for the U.S. healthcare market for $400 million.
Sentry Data Systems, Inc., headquartered in Deerfield Beach, Florida, is a leading
provider of SaaS solutions which simplify the complexity of
pharmacy procurement, utilisation and 340B regulatory compliance in order to maximise
cost savings, improve patient outcomes and ensure precise
regulatory compliance. Sentry also provides business
intelligence and SaaS analytics solutions and consulting
services. Visit sentryds.com.
Brent Stone, Partner at Abry
Partners, said, "Since our acquisition in 2015 we have worked with
CEO Travis Leonardi to grow the
company and continue to innovate in the 340B industry, which today serves a customer base
of more than 10,000 hospitals, pharmacies and clinics. We
want to thank Travis and the entire Sentry team for their
partnership and dedication and believe strongly that this is a
compelling combination for all stakeholders."
T.J. Rose, Partner at Abry Partners, said, "We have been proud
to support Travis and the Sentry team in continuing their history
of innovation and leadership within the sector. We are
excited to watch their continued success as they are further
empowered by Craneware."
Travis Leonardi, RPh, CEO at
Sentry Data Systems said, "It's been a privilege to work with ABRY
these past six years. Sentry looks forward to continuing to
innovate and grow with its new partnership with Craneware."
The transaction is subject to customary closing conditions and
is expected to close over the next month. Piper Sandler served as financial advisor to
Abry and DLA Piper provided legal counsel.
About Sentry Data Systems, Inc.
Sentry Data
Systems, Inc. https://www.sentryds.com/ is a pioneer in
providing technology solutions that help healthcare providers
address their three biggest challenges: reducing total cost of
care, managing compliance and producing better quality. Thousands
of hospitals and care locations across the country rely on Sentry's
integrated platform for their solutions, which provide decision
support for millions of unique patients and have helped hospital
systems and IDNs realize billions of dollars in documented
savings.
About Abry Partners
Abry is one of the most
experienced and successful sector-focused private equity investment
firms in North America. Since its
founding in 1989, the firm has completed over $90 billion of leveraged transactions and other
private equity or preferred equity placements. Currently, the
firm manages over $5 billion of
capital across its active funds. For more information on Abry,
please visit www.abry.com.
Media Contact:
Chris
Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
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SOURCE Abry Partners