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Ontario Systems announced today that a majority share in the company had been purchased by Arlington Capital Partners, a private equity firm. Terms of the deal were not disclosed.
Arlington bought out the shares owned previously by Oxford Financial. On its website, Arlington describes itself as a middle-market investment firm that manages more than $1.5 billion of assets. The company specializes in healthcare services, aerospace and defense companies, government services, and outsourced business services and software. Prior to purchasing Ontario Systems, Arlington’s most recent purchase was a manufacturer of medical implants.
“Partnering with Arlington Capital was a natural step in our growth,” said Michael Wolfe, Chief Technology Officer with Ontario Systems, in a statement. “They bring a great deal of experience to the table in growing software companies. That expertise will help us accelerate our existing product strategy and deepen our ongoing commitment to innovation in the cloud for our customers.”
According to Arlington, Ontario Systems’ customers include three of the top six health systems in the U.S., and nine of the ten largest revenue cycle management and collection firms, with approximately 55,000 licensed users across more than 500 locations.
