TA Completes Sale of PrimeRx to RedSail Technologies
TA Associates (“TA”), a leading global private equity firm, today announced the successful sale of PrimeRx, a provider of innovative pharmacy management solutions, to RedSail Technologies. As an affiliate of RedSail, PrimeRx will continue to operate under its established brand while integrating with RedSail’s broader family of pharmacy-focused solutions.
TA first invested in PrimeRx in 2021, partnering closely with management to support the Company’s long-term growth strategy. During TA’s ownership, PrimeRx made significant advancements in product development – strengthening its core pharmacy management platform and expanding functionality – and scaled the organization to better serve pharmacies navigating an increasingly complex healthcare environment.
“This transaction underscores the strength of PrimeRx’s platform, its deep and trusted customer relationships, and the dedication of its management team,” said Mark Carter, Senior Advisor at TA. “We believe RedSail is well positioned to support PrimeRx’s continued growth and expand its impact across the pharmacy ecosystem.”
“TA has been a highly collaborative partner to PrimeRx throughout our journey,” said Ketan Mehta, President, Chief Executive Officer and Chief Product and Systems Officer of PrimeRx. “Their resources and expertise helped us expand our capabilities and sharpen our focus on delivering customer-first solutions. Joining RedSail marks an exciting next chapter for PrimeRx, and we look forward to supporting pharmacies with even greater scale, connectivity and innovation.”
“We are proud of what Ketan and the PrimeRx team have accomplished throughout our partnership, building a platform that supports the rapidly evolving needs of its customers,” said Gregory Majno, Senior Vice President at TA. “We are excited to see PrimeRx continue to thrive as part of the RedSail family.”
Financial terms of the transaction were not disclosed.
About TA
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its core sectors, including technology, business services, financial services, and healthcare. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has more than 160 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai, and Hong Kong. Learn more at www.ta.com.
About PrimeRx
PrimeRx provides innovative pharmacy management solutions that improve efficiency, ensure compliance, and enhance patient care. Trusted by thousands of pharmacies nationwide, PrimeRx is redefining the future of pharmacy technology. Learn more at www.PrimeRx.io