PE firm continues investments in health care industry by taking a stake in Jaggaer
Cinven will support Jaggaer’s management and operations as it plans to increase assets and capabilities in its spend management suite, The Jaggaer One platform.
According to Jaggaer, the platform uses machine learning and artificial intelligence (AI) capabilities in its network of 4m suppliers to simplify the contracting process for clients taking on existing and potential customers.
Chris Good, partner and co-head of Cinven’s technology, media, and telecom (TMT) team, said in a statement, “As a growing and profitable spend management software business with a very strong track record, and following a number of successful acquisitions, the business is poised for continued significant growth.”
No financial terms of this investment were disclosed.
The UK-based private equity (PE) company has raised a total of €37bn and invested in 135 companies across Europe and North America. The investment in Jaggaer follows investments in Medpace in 2014 and Bioclinica in 2016.
