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Latham & Watkins Advises Spectrum Equity in US$156 Million Growth Funding for VBA

August 21, 2023
Multidisciplinary team advises on the healthcare technology transaction.

VBA, a leader in cloud-based benefits software for healthcare payers, has announced that the company has closed a US$156 million majority growth equity transaction led by Spectrum Equity, the leading growth equity firm behind healthcare information technology companies Definitive Healthcare and GoodRx. Existing investor Arthur Ventures also participated in the round.

Latham & Watkins LLP represented Spectrum Equity in the transaction with a PE/M&A team led by Boston partner Hans Brigham, with associates Laki Triantafylidis and Gabby Carusello. Advice was also provided on IP matters by Boston partner Sarah Gagan, with associates Debbie Hinck and Zachary Shufro; on data privacy matters by Bay Area partner Heather Deixler; on executive compensation and employee benefits matters by Bay Area partner Ashley Wagner, with associate Nimra Syed; on healthcare regulatory matters by Bay Area partner Betty Pang; on tax matters by Century City partner Pardis Zomorodi, with associate Brian Rogers; on insurance matters by Los Angeles partner Drew Levin, with associate Hannah Cary; and on antitrust matters by Washington, D.C. partner Mandy Reeves and counsel Patrick English.