Bain Capital, through Bain Capital Tech Opportunities, invested BRL450m (~USD81.6m) for a 43% stake in Brazil-based healthcare software company Bionexo at a reported BRL1.1b (~USD199.5m) valuation, facilitating a partial exit for Prisma Capital and Apus.

(Bain Capital | Brazil Journal)

Bionexo, a leading Latin American cloud software and data analytics provider that connects healthcare suppliers and providers, today announced a R$[450] million growth investment from Bain Capital Tech Opportunities. The funding will enable Bionexo to rapidly expand its suite of healthcare SaaS platforms, pursue transformational M&A opportunities and further consolidate its category-leading position. Bain Capital Tech Opportunities will join Bionexo’s existing investors including Prisma Capital, Apus and Temasek in supporting the growth of the company.

Founded in 2000 in São Paulo, Bionexo provides an integrated suite of cloud software and marketplace technology tools to help hospitals efficiently source critical care products while empowering suppliers to extend their reach and acquire new customers. Bionexo’s core e-procurement platform is expected to facilitate more than R$15 billion in transaction volume this year while connecting more than 15,000 hospitals, clinics and suppliers in Brazil, Argentina, Colombia, and Mexico. Leveraging its deep customer relationships and industry expertise, Bionexo has also expanded its product set to offer digital inventory management, revenue cycle management, and analytics solutions, helping to drive greater efficiency and enhanced patient outcomes across the rapidly digitizing Latin American healthcare ecosystem.

“At this critical inflection point in our history, we are thrilled to have a partner in Bain Capital that shares our vision of leveraging next-generation technology to help providers and suppliers make more informed procurement decisions, and further digitalizing other functions within the sector value chain, ultimately resulting in more affordable care and improved health outcomes,” said Rafael Barbosa, CEO of Bionexo. “With their support and deep technology and healthcare experience, we will double down on our investments in artificial intelligence and machine learning across all Bionexo products and pursue new acquisitions and partnerships to expand our capabilities and scale.”

Bain Capital has deep experience across the healthcare ecosystem, having invested in Grupo NotreDame Intermédica in Brazil, one of the country’s largest healthcare service providers. The firm has also invested in and scaled a wide range of healthcare technology companies globally, including HST Pathways, IQVIA, PartsSource, Waystar and Zelis.

“Bionexo’s products and services impact thousands of healthcare providers and foster better health outcomes through productivity gains. Their existing investors and talented management team have been enormously successful in building the business into an industry leader and a trusted partner for healthcare companies,” said Darren Abrahamson, a Managing Director at Bain Capital Tech Opportunities. “We look forward to supporting Bionexo through organic growth initiatives and M&A opportunities while helping them drive new product development that delivers a unique value proposition to customers.”

“Over the years, we have made significant investments to transition Bionexo from a single product company to an integrated software platform that significantly improves the strategic and day-to-day operations of healthcare companies,” added Mauricio Barbosa, the founder and Chairman of Bionexo.  “With this new investment from Bain Capital, Bionexo will further solidify its position as a leading supplier of healthcare technology products that bring efficiency and affordability to a rapidly growing healthcare ecosystem in Latin America.”