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LGP / FRANCISCO PARTNERS / REDSAIL
M.11619
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 4 of Short Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
SECTION 4
Description of the concentration
On 17 June 2024, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 of 20 January 2004 (“Merger Regulation”). The proposed concentration involves the acquisition of indirect joint control, within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation, of RedSail Technologies LLC (“RedSail”) by funds affiliated with Leonard Green & Partners L.P. (“LGP”) and by funds affiliated with Francisco Partners Management L.P (“Francisco Partners”) (“Transaction”). RedSail is currently indirectly solely controlled by funds affiliated with Francisco Partners. The Transaction will be effected by way of a purchase of shares pursuant an agreement signed on 30 May 2024.
The business activities of the undertakings concerned by the notified concentration are as follows:
• LGP is a private equity investment firm headquartered in Los Angeles, California, United States. LGP invests primarily in U.S.-based companies providing services, including consumer, business, and healthcare services, as well as distribution and industrials.
• Francisco Partners is a global investment firm, based in San Francisco, California, United States, that specialises in partnering with technology and technology-enabled businesses.
• RedSail is a U.S.-based provider of pharmacy software and services, and is active primarily in the United States. The company’s integrated pharmacy technology platform automates and optimises pharmacy workflows, such as automating inventory management, managing patient profiles, as well as offering medical billing, e-prescribing, and payment capabilities.
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