Hicks Holdings, the private family investment company of Dallas billionaire Thomas Hicks, announced today that it has acquired a 40 percent stake in SafeMed, a San Diego-based maker of clinical decision support systems — products that help doctors and patients make fast and crucial decisions about their medical options. Financial terms were not disclosed.
SafeMed, founded in 2000 by Ahmed Ghouri, MD, the company’s chief executive officer, provides systems that aim to maximize two key aspects of healthcare: quality and affordability. The company’s three products assist medical professionals and patients in choosing medications, selecting appropriate imaging tests, and identifying potential gaps in care for a given condition.
In a statement, Ghouri emphasized the complexity of the decisions physicians must make when proceeding with patient treatment, saying that they must consider medical history, co-existing diagnoses and conditions, drug interactions, clinical best practices, and insurer benefit information, among other factors. “It is therefore imperative to have split-second answers to complex questions at the moment they are needed,” Ghouri said.
SafeMed is the latest addition to a diverse Hicks Holdings portfolio that also includes Latrobe Specialty Steel Company; Greatwide Logistics Services, a transportation and logistics company; Ocular LCD, a provider of liquid crystal displays for electronic devices; and Grupo Pilar, an Argentina-based animal and pet food company.
After retiring from the private equity firm he founded in 1989, Hicks, Muse, Tate & Furst (today known as HM Capital Partners LLC), Thomas Hicks formed Hicks Holdings in January 2005 to house the Hicks family’s sports and real estate investments, as well as other assets. Most prominently, Hicks Holdings owns the Texas Rangers of Major League Baseball, the Dallas Stars of the National Hockey League, and the Liverpool Football Club of the Premier League.