Equiteq is pleased to announce that it acted as co-advisor to Healthcare IT Leaders ("HITL" or the "Company"), a national provider of healthcare IT consulting, workforce and managed services, on its sale to Kyndryl (NYSE: KD), a leading provider of mission-critical enterprise technology services. Houlihan Lokey served as the primary financial advisor to the Company, with Equiteq acting as co-advisor.
Founded in 2011 and headquartered in Alpharetta, Georgia, HITL is a national leader in healthcare IT consulting and workforce solutions, serving hospitals and health systems across the United States. The Company's core capabilities span IT strategy and advisory, EHR and ERP implementation, application managed services, data, cloud and AI services, and specialist healthcare technology talent. Under CEO Ben Hilmes, the Company expanded materially into managed services and data, cloud and AI offerings, including its designation as a Workday Application Managed Services partner.
Kyndryl is a New York-based provider of mission-critical enterprise technology services, designing, building, managing and modernizing the complex information systems that enterprises depend on. Kyndryl serves thousands of customers across more than 60 countries, including a substantial share of the Fortune 100, and has been building out its healthcare provider practice around infrastructure modernization, cyber resilience and governed AI adoption.
The transaction pairs Kyndryl's infrastructure and AI modernization capabilities with HITL's healthcare talent, consulting and application management expertise, creating a combined offering positioned to support health systems through increasingly complex digital transformation programs.
Terms of the transaction were not disclosed.
Don Holbrook, Managing Director at Equiteq, said, “Healthcare is undergoing a significant wave of digital transformation, and Healthcare IT Leaders has consistently been at the forefront of adopting the technologies driving industry change. As healthcare organizations increasingly look to outsource their IT infrastructure, Kyndryl is the ideal partner to support Healthcare IT Leaders and its clients through this next phase of innovation and growth.”