Nordic Capital invests in PE-backed RLDatix

Nordic Capital is deploying equity via Nordic Capital Fund X, which held a final close in October 2020 on EUR 6.1bn, surpassing its EUR 5bn target. The fund generally invests in business and industrial services, technology, financial services and healthcare companies based in northern Europe.

Bowmark originally acquired Datix in 2008. Five Arrows Principal Investments acquired the company in an SBO 2013, investing via its 2010-vintage Five Arrows Principal Investments fund.

In 2018, TA Associates also acquired a stake in the business. According to its latest UK filings from the time, the company generated an operating profit of GBP 3.9m and EBITDA of GBP 4.13m with revenues of GBP 10.25m in 2017.

In June 2018, Datix merged with Toronto-based patient safety software developer RL Solutions, forming RLDatix.

Founded in 1986, RLDatix is a healthcare GRC platform. It serves around 5,000 customers in 20 countries. The company is headquartered in Chicago, with additional offices in London, Toronto and Riyadh.

RLDatix has made a series of add-ons under TA and Five Arrows' ownership. The company acquired healthcare human capital management software Allocate in June 2021 from Hg and Vista Equity Partners. Prior to that, the company merged with New Jersey-based iContracts in May 2019, with Susquehanna Growth Equity becoming a shareholder in the combined company.

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• Topics
• Expansion
• Technology
• United States
• United Kingdom
• Nordic Capital
• TA Associates
• Rothschild