Simpson Thacher represented Waystar, a portfolio company of EQT, Canada Pension Plan Investment Board and Bain, in connection with its acquisition of HealthPay24 from EngageSmart (NYSE: ESMT).
HealthPay24, a recognized leader in cloud-based patient payment software, is a pioneer in consumer-driven solutions to the ever-increasing patient pay responsibility. Its SaaS product design ensures the unique, ongoing ability to adopt emerging & AI technologies for the benefit of its client base. Founded in 2001, the solution equips providers with best in class POS and online payment portals, plus new patient messaging and analytics engines.
Waystar helps providers simplify healthcare payments and yield powerful results throughout the complete revenue cycle. Waystar’s healthcare payments platform combines innovative, cloud-based software, robust data, and unparalleled client support to streamline workflows and improve financials so providers can focus on what matters most: their patients and communities.
EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payments solutions. EngageSmart offers single instance, multi-tenant, true Software-as-a-Service vertical solutions, including SimplePractice, InvoiceCloud and DonorDrive, that are designed to simplify its customers’ engagement with their clients by driving digital adoption and self-service.
The Simpson Thacher team included Michael T. Holick, Carina Kan, Daniel Spicehandler and Minaal Wickremesinghe (M&A); Jonathan Goldstein, Andrew Mandelbaum and Matthew Lester (Tax); Lori Lesser, Kate Mirino, Corina Holland, Bobbie Burrows and Mark Natividad (Intellectual Property); David Rubinsky, Ryan Stott, Linda Barrett, Matias Botto and Ryan Kenny (Executive Compensation and Employee Benefits); Vanessa Burrows and Nawa Lodin (Healthcare Regulatory); Krista McManus and Timothy Gallagher (Real Estate) ; Eli Isak and Chun Baak (Finance); Tim Mulvihill (Environmental); and Steven DeLott (Insurance).