New York-based Veronis Suhler Stevenson (VSS), has exited its investment in Strata Decision Technology to Roper Industries for a reported 4x return.
VSS first acquired the company with an investment from its Structured Capital Fund II a $300 million fund that closed in 2009.
Strata provides a cloud-based, financial analytics and performance platform for financial planning, and cost efficiency over 1,000 hospitals and healthcare delivery systems in the U.S. Roper announced the acquisition yesterday on its earnings call.
“With the latest closing (Strata), VSS SC II has a greater than 20% net IRR,” Jeffrey Stevenson, Managing Partner at VSS told Private Equity International.
Typical investments from VSS Structured Capital funds range from $25-$30 million. VSS has made 4 investments in the Healthcare information technology from the two funds, according to its website. Of the four investments VSS has now realized three exits including Strata, Avatar International and Executive Health Resources.