Warburg Pincus Explores $5 Billion Sale of Modernizing Medicine

Warburg Pincus is considering selling Modernizing Medicine, valuing the medical software company at over $5 billion. ModMed, based in Florida, is working with a financial advisor to attract potential buyers. Warburg Pincus could retain ownership, having first invested in ModMed in 2017.

Private equity giant Warburg Pincus is exploring the potential sale of Modernizing Medicine, a move that could value the healthcare technology company at upwards of $5 billion, insiders reveal.

Headquartered in Boca Raton, Florida, and co-founded by Daniel Cane and Michael Sherling, ModMed is seeking buyers under the guidance of a financial advisor. This development follows Warburg Pincus's initial investment in 2017, and the firm has been investing strategically across 230 companies in various sectors.

While discussions are underway, officials from Warburg Pincus and ModMed have refrained from commenting. The firm's decision remains tentative, as they may choose to maintain their stake in ModMed or pursue alternative financial strategies for the company.

(With inputs from agencies.)