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Date Feb 24, 2022
Source TA

TA Associates Announces Strategic Growth Investment in Micro Merchant Systems

BOSTON – TA Associates, a leading global growth private equity firm, today announced a strategic growth investment in Micro Merchant Systems, a leading provider of pharmacy management software.

Financial terms of the transaction were not disclosed.

For over 30 years, Micro Merchant Systems’ end-to-end software suite has helped thousands of pharmacies across the U.S. manage all clinical and operational aspects of their business. PrimeRx™, the company’s flagship product, helps pharmacies reduce dispensing errors, optimize operations, and increase revenue and profitability. PrimeRx™ allows pharmacies to securely connect the healthcare ecosystem, namely Prescribers, Caregivers, Nursing Homes and Assisted Living Facilities, to generate better healthcare outcomes for patients while moving pharmacies towards a performance-based revenue model. PrimeRx™ goes beyond a traditional Pharmacy Management System, allowing the pharmacy of today to become the pharmacy of tomorrow.

“As a recognized leader in the mission-critical pharmacy management software market, Micro Merchant Systems offers a compelling investment opportunity for TA,” said Mark Carter, a Managing Director at TA. “With a comprehensive platform addressing the entirety of pharmacy workflows, Micro Merchant Systems has enjoyed strong customer retention and consistent revenue growth. We look forward to working with the company’s experienced management team and leveraging TA’s experience and global resources to help further accelerate the growth of Micro Merchant Systems.”

“It is a pleasure to welcome TA as the first institutional investor in Micro Merchant Systems,” said Ketan Mehta, CEO, Micro Merchant Systems. “Given the firm’s deep experience investing in founder owned companies, we believe TA is an optimal partner for Micro Merchant Systems. TA provides additional horsepower to continue supporting our clients with creative and intelligent solutions. The firm’s extensive network and resources also presents greater opportunity for our clients and employees and will further position us as a thought leader in the industry, building on our company’s legacy.”

About Micro Merchant Systems
Micro Merchant Systems is a Healthcare IT Company that has been providing exceptional management solutions to the Independent Pharmacy Market for over 30 years. Thousands of pharmacies throughout the U.S. trust the company’s PrimeRx™ system to manage their Retail, Long-Term Care, Specialty, Compounding, 340B, Mail Order, Physician's Office, Hospital & Health System Outpatient, and Hub Service Pharmacy technology needs.

About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.