PartsSource Acquisition, Valuation, Funding & Investors

PartsSource was acquired by Bain Capital for $1.3B in July 2021.

PartsSource acquisition price

$1.3B

Acquired by Bain Capital · Jul 2021

Key investors in PartsSource

  • Memorial Hermann Hospital

PartsSource Overview

About PartsSource

PartsSource operates a B2B online marketplace and cloud software platform for medical equipment maintenance parts and services, helping hospitals and health systems source parts on demand, manage supply chains, and coordinate service contracts. Founded in 2001 and based near Cleveland, Ohio, the company connects more than 8,000 medtech OEMs and repair professionals with thousands of hospitals and clinics, and its platform extends into asset intelligence, workforce capacity, and decision support for clinical engineering teams. PartsSource also offers on-site and off-site repair services through a network of credentialed engineers.


Founded

2001

HQ

United StatesUnited States

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Valuation

$1.3B (acquired Jul 2021)

PartsSource Acquisition

PartsSource was acquired by Bain Capital for $1.3B on 20 July 2021.

PartsSource is a leading B2B online marketplace for medical equipment maintenance parts and services, providing cloud software and technology tools to help hospitals source parts on-demand, manage supply chains, and connect with over 8,000 medtech OEMs and repair professionals serving more than 3,500 hospitals and 15,000 clinics. The company, founded in 2001 and based near Cleveland, Ohio, expanded its platform in 2020 to include on-site and off-site repair services with access to over 2,000 credentialed engineers, which won a 2021 BIG Innovation Award. Bain Capital Private Equity agreed to acquire PartsSource from Great Hill Partners on July 20, 2021, with the deal closing in Q3 2021, supported by debt financing from Blue Owl Capital. The investment aims to accelerate PartsSource's growth, broaden its solutions, and expand its marketplace amid rising demand for efficient healthcare supply chains exposed by COVID-19. PartsSource will continue under its existing management led by CEO Philip Settimi. The transaction valued the company at approximately $1.25 billion according to sources cited by WSJ, Fierce Healthcare, PE Hub, and others, though official terms were not disclosed. Advisors included Robert W. Baird & Co. and Goodwin Procter for PartsSource, and TripleTree and Kirkland & Ellis for Bain.

PartsSource acquisition details
AcquirerDateTypePrice
  • Bain Capital
20 Jul 2021PE buyout$1.3B

PartsSource Funding History

PartsSource has raised 1 funding round.

PartsSource funding rounds
DateStageInvestorsDeal Summary
Aug 2026Strategic investmentMemorial Hermann Hospital (lead)Memorial Hermann Health System made a strategic investment in PartsSource in August 2026, deepening an existing partnership with the clinical technology performance platform. The investment was intended to strengthen healthcare technology infrastructure and clinical capacity across more than 1,600 hospitals using the PartsSource platform. PartsSource operates a platform for healthcare technology management that unifies parts sourcing, service contracts, asset intelligence, workforce capacity, and decision support for hospitals and health systems. The company describes its platform as helping organizations maximize asset availability and operational readiness through AI-enabled insights and enterprise workflows.

Who has invested in PartsSource?

1 investor has backed PartsSource across its funding rounds, including Memorial Hermann Hospital.

Lead investors include Memorial Hermann Hospital.


PartsSource Investors

Investors in PartsSource by funding rounds participated
InvestorHQRoundsRoleFirst check

This data is available for Pro users. Sign up to see all 1 PartsSource investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Acquisitions by PartsSource

PartsSource has acquired 1 company to date.

Last acquisition by PartsSource was on June 8th 2026. PartsSource acquired SkillNet for undisclosed valuation.


Latest Acquisitions by PartsSource

SkillNet
Description
SkillNet is a workforce intelligence platform serving healthcare technology management.
HQ Country-
HQ City
-
Deal Date8 Jun 2026
Valuationundisclosed
EV/Revenue
EV/EBITDA

This data is available for Pro users. Sign up to see all PartsSource acquisitions and their M&A valuation multiples.

Start Free Trial

PartsSource Competitors

PartsSource competitors include listed companies like U.S. Physical Therapy and EverCommerce, and private ones like Ambience Healthcare, Cadence Solutions, Viz and MasterControl.

Public and private companies comparable to PartsSource
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Ambience HealthcareUnited StatesSan Francisco, CAPrivate$38M-$1.3B32.9x
U.S. Physical TherapyUnited StatesUnited StatesPublicly listed$781M$110M$1.2B2.3x
Cadence SolutionsUnited StatesNew York City, NYPrivate$35M-$1.2B-
VizUnited StatesUnited StatesPrivate$100M-$1.3B12.8x
MasterControlUnited StatesSalt Lake City, UTPrivate$100M-$1.3B13.0x
EverCommerceUnited StatesUnited StatesPublicly listed$589M$128M$1.4B2.9x

PartsSource Public Comps

PartsSource is no longer listed, but its public comps include U.S. Physical Therapy, EverCommerce, PHC Holdings, Vitec Software, iFLYHealth, Indegene, Omnicell, HealthStream, MedicalSystem Technology and Hangzhou Pinming Software.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
U.S. Physical Therapy$781M$110M2.5x2.3x17.5x18.9x
EverCommerce$589M$128M3.0x2.9x13.7x9.5x
PHC Holdings$2.3B$320M1.0x1.0x7.2x6.5x
Vitec Software$371M$151M3.7x3.5x9.1x9.0x
iFLYHealth$136M($7M)7.7x6.2x(150.8x)(144172.5x)
Indegene$366M$68M3.7x3.3x19.9x18.2x
Omnicell$1.2B$92M1.2x1.1x15.0x8.1x
HealthStream$304M$63M2.8x2.6x13.2x11.2x

This data is available for Pro users. Sign up to see all PartsSource competitors and their valuation data.

Start Free Trial

Common questions about PartsSource

When was PartsSource founded?PartsSource was founded in 2001.
Where is PartsSource headquartered?PartsSource is headquartered in United States.
Is PartsSource publicly listed?No, PartsSource was acquired by Bain Capital in July 2021.
Who acquired PartsSource?PartsSource was acquired by Bain Capital in July 2021.
How much was PartsSource acquired for?PartsSource was acquired for $1.3B in July 2021.
What was PartsSource's last funding round?PartsSource's last funding round was a strategic investment round in August 2026, led by Memorial Hermann Hospital.
Who are PartsSource's investors?PartsSource's investors include Memorial Hermann Hospital.
Which companies are comparable to PartsSource?Companies comparable to PartsSource include Ambience Healthcare, U.S. Physical Therapy, Cadence Solutions, Viz, MasterControl and EverCommerce.
How many companies has PartsSource acquired?PartsSource has acquired 1 company, including SkillNet.

See companies similar to PartsSource

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial