Bain Capital acquires HST Pathways

● STRATEGIC | HEALTHCARE · Provider EHR & Practice Management

FEBRUARY 23, 2026

Bain Capital acquires HST Pathways (Bain Capital)

TARGET

HST Pathways delivers a cloud-based suite of EHR, scheduling, billing, and analytics software purpose-built for ambulatory surgery centers.

Deal value	~USD 1bn valuation
Revenue	~USD 100m
Ownership	PE-backed · Bain Capital (prior owner); Bain Capital Tech Opportunities, Nexxus Holdings, Novo Holdings
Headcount	285 FTEs
Headquarters	Nashville, Tennessee
Leadership	David Thawley, Chief Executive Officer
Sell-side advisor	William Blair

ACQUIRER

Bain Capital

Buy-side advisor

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Bain Capital -> HST Pathways  (2026-09-18)
sponsor_exit | Healthcare | ~USD 1bn valuation | announced
Target: HST Pathways delivers a cloud-based suite of EHR, scheduling, billing, and analytics software purpose-built for ambulatory surgery centers.
Website: hstpathways.com | Buyer site: baincapitaltechopportunities.com
HQ: Nashville, Tennessee | Ownership: pe-backed | Seller: Bain Capital
Advisors - Sell-side: William Blair
Source: Thematic - https://thematichq.com/software/d/bain-capital-hst-pathways.html

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