H.I.G. Acquires Outcomes One for Pharmacy Technology

The pharmacy counter is becoming one of healthcare's busiest handoffs. Prescription processing sits beside billing, inventory, patient questions, medication adherence, and a growing list of clinical services, while the same pharmacy team is expected to keep every lane moving.

H.I.G. Capital has acquired Outcomes One, an Orlando-based provider that connects pharmacy-management software with a national clinical-services network. H.I.G. announced the completed acquisition on September 2, 2026. The purchase price, valuation, financing structure, and ownership percentages were not disclosed.

The scale makes the operating question larger than a routine healthcare-software deal. H.I.G. says Outcomes reaches approximately 85% of U.S. pharmacies and facilitated more than 10 million clinical interventions across 130 million covered lives in 2025. The acquisition gives H.I.G. control of a business positioned inside both the daily mechanics of dispensing and the clinical work healthcare increasingly asks pharmacists to perform.

What H.I.G. Capital Acquired

Outcomes serves pharmacies, health plans, pharmaceutical manufacturers, and data partners. Its technology portfolio includes Rx30 and Computer-Rx pharmacy-management systems, Outcomes Premium, patient-engagement and automation tools, clinical services, and data and analytics. Those products support work such as prescription processing, dispensing, billing, inventory, patient communication, medication adherence, and pharmacist-delivered interventions.

The combination matters because pharmacy software and clinical programs often compete for the same operating attention. A payer or pharmaceutical company can identify a patient who may benefit from an intervention, but the opportunity still has to appear inside a pharmacist's workflow at a moment when the pharmacy can act. Outcomes is attempting to make that connection part of the operating system rather than a separate task queue.

The company says its clinical engine contains thousands of proprietary algorithms used to identify more than 600 targeted interventions across more than 50 disease states. Those details describe the breadth of the platform, while the more important business measure is whether interventions are completed consistently and produce value for patients, pharmacies, payers, and manufacturers.

Outcomes One's Scale and Corporate History

The current Outcomes business took shape in July 2023, when Transaction Data Systems merged with Cardinal Health's Outcomes business. TDS brought pharmacy-management and engagement products including Rx30, Computer-Rx, and PrescribeWellness. Cardinal Health's Outcomes operation added medication-therapy-management and patient-engagement capabilities. The combined company adopted the Outcomes name, with Jude Dieterman continuing as CEO.

That history gives Outcomes a long operating lineage without turning the 2023 combination into a conventional startup origin story. The company says its component businesses have served pharmacy for more than 46 years. At the time of the merger, TDS was backed by BlackRock Long Term Private Capital and GTCR, while Cardinal Health received a minority stake in the combined organization. H.I.G.'s 2026 release does not identify the selling shareholders or say whether any prior owner retained equity.

The network has also changed in how it is described. Outcomes cited 48,000 pharmacy locations and more than 70 million patient lives around the 2023 combination. H.I.G.'s current release uses a broader measure of approximately 85% of U.S. pharmacies and 130 million covered lives. Those figures may reflect different definitions as well as business expansion, so they should not be converted into a simple growth rate without additional disclosure.

Why the Pharmacy Workflow Matters

Community pharmacies already sit close to patients, but access is useful only when the operation has time and information to act. Every prescription brings clinical context, reimbursement requirements, inventory pressure, and a patient interaction into the same physical and digital workflow. Adding medication reviews, adherence programs, vaccinations, and other services can improve the pharmacy's role in care while also increasing the burden on a constrained team.

Outcomes' strategic position is the connection between those demands. Its pharmacy-management systems handle core operating work, while the clinical network connects payer and manufacturer programs to pharmacists at the point of care. If the integration reduces navigation, duplicate entry, and disconnected task management, the pharmacy can spend more time on clinical work without treating every new program as another piece of software to babysit.

The company reported more than 10 million interventions in 2025, but the acquisition announcement does not disclose completion rates, patient-outcome measures, pharmacy economics, or customer retention. The reach is evidence of distribution. The next layer of evidence belongs to the quality, economics, and repeatability of the care delivered through that distribution.

What H.I.G. Changes

Jude Dieterman said the H.I.G. partnership will support continued investment in the pharmacist-led clinical network and platforms including Rx30, Computer-Rx, and Outcomes Premium. Arjun Mohan, a Managing Director at H.I.G., framed the transaction around expanding technology, services, and innovation while elevating the pharmacy's role in healthcare.

H.I.G. brings an operating model built around middle-market ownership, growth initiatives, and portfolio-company improvement. That can give Outcomes resources for product development, implementation capacity, sales execution, and acquisitions, but the release does not assign money or deadlines to any of those categories. The transaction should therefore be read as a change in ownership and operating support, not as a disclosed funding amount or a published roadmap.

The adviser roster confirms a completed institutional transaction. William Blair and Kirkland & Ellis advised H.I.G., while TripleTree and Simpson Thacher & Bartlett advised Outcomes. Kirkland separately confirmed that it represented H.I.G. on the acquisition.

The Market Signal Beyond Outcomes One

Healthcare keeps looking for delivery capacity outside the hospital and physician office. Pharmacies offer physical access, medication data, trusted professionals, and recurring patient contact, but those advantages do not automatically create a scalable clinical channel. The work has to fit the pharmacy's economics and the hours available behind the counter.

H.I.G.'s acquisition puts private-equity ownership behind that operating thesis at national scale. Outcomes now has to show that a connected platform can make clinical interventions easier to identify, complete, document, bill, and measure while keeping dispensing operations dependable. The company already touches a large share of the U.S. pharmacy system; the unfinished work is turning that footprint into care capacity that feels useful to patients and sustainable to the people running each pharmacy.