GI Partners and TA Associates have recapitalized Rectangle Health, according to a news release.
Rectangle Health, based in Valhalla, N.Y., is a provider of healthcare financial technology and patient engagement solutions. Founded in 1993, the company provides solutions to hospitals, physician practices, insurance groups and billing services.
GI Partners, based in San Francisco, seeks to invest in North American middle market companies. Founded in 2001, the firm is active in several sectors, including healthcare, making initial equity investments of up to $500 million.
TA Associates, which is based in Boston, considers a range of investment types, from minority to majority investments. Founded in 1968, the firm invests in healthcare and several other sectors.
GI Partners is a new investor in Rectangle Health while TA Associates is an existing investor.
Terms of the recapitalization were not disclosed.