RedSail Technologies, a top provider of pharmacy solutions, has received a strategic growth investment from Leonard Green & Partners (LGP). Additionally, Francisco Partners (FP), the company’s creator through the merging of two divisions in 2020, will reinvest alongside management.
This investment will propel RedSail’s mission to enhance pharmacy’s role and community health by establishing the most clinically advanced and financially sustainable pharmacy network. Currently operating in over 12,000 pharmacy locations, RedSail offers a comprehensive platform comprising leading pharmacy management software, proprietary pharmacy network switch capabilities, and data services, delivering both financial and clinical advantages to stakeholders across the pharmacy ecosystem.
Kraig McEwen, RedSail CEO, expressed gratitude for the successful partnership with Francisco Partners and welcomed LGP’s involvement, emphasizing their commitment to accelerating product development, expanding the customer base, and enhancing offerings across the pharmacy and healthcare sectors.
Pete Zippelius and Jeff Suer at LGP praised RedSail’s transformative impact on the pharmacy industry, highlighting its innovative solutions and positioning to capitalize on the evolving role of pharmacists. Chris Adams, Partner at Francisco Partners, commended RedSail’s exceptional growth and customer support, expressing confidence in the company’s future alongside LGP.
The transaction is pending regulatory approvals, with TripleTree and William Blair advising RedSail Technologies and Francisco Partners, while Baird and Latham & Watkins LLP advised LGP.
About RedSail Technologies:
RedSail Technologies is a pharmacy software innovator, serving over 12,000 pharmacies and over 8 million patients monthly. Its solutions streamline daily pharmacy operations and empower pharmacists to focus on patient care.
About Leonard Green & Partners:
LGP is a leading private equity firm with a focus on market-leading companies in various sectors, including consumer, healthcare, and business services.
About Francisco Partners:
Francisco Partners is a global investment firm specializing in technology and technology-enabled businesses, with a track record of over 450 investments in the technology industry.
