John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training 
DOJ Reaches Settlement With Blackstone’s LivCor Over Alleged Rent Price-Fixing 
Eli Lilly and Novo Nordisk Battle for India’s Fast-Growing Obesity Drug Market 
Mexico Antitrust Review of Viva Aerobus–Volaris Deal Signals Growth for Airline Sector 
Saks Global Weighs Chapter 11 Bankruptcy Amid Debt Pressures and Luxury Retail Slowdown 
Warner Bros Discovery Weighs Amended Paramount Skydance Bid as Netflix Takeover Battle Intensifies 
Nvidia to Acquire Groq in $20 Billion Deal to Boost AI Chip Dominance 
South Korean Court Clears Korea Zinc’s $7.4 Billion U.S. Smelter Project, Shares Surge 
Texas App Store Age Verification Law Blocked by Federal Judge in First Amendment Ruling 
Boeing Wins $2.04B U.S. Air Force Contract for B-52 Engine Replacement Program 
Winter Storm Devin Triggers Massive Flight Cancellations and Travel Disruptions Across the U.S. 
Nvidia and Groq Strike Strategic AI Inference Licensing Deal 
TSMC Honors Japanese Chip Equipment Makers With 2025 Supplier Awards 
BP Nears $10 Billion Castrol Stake Sale to Stonepeak 
Warner Bros. Discovery Shares Slide Amid Report of Potential Paramount Skydance Lawsuit 
Waymo Plans Safety and Emergency Response Upgrades After San Francisco Robotaxi Disruptions 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccines Portfolio 
LOS ANGELES, July 17, 2017 -- K1 announces the sale of its portfolio company ChiroTouch to Waud Capital Partners. Under K1’s ownership, ChiroTouch grew to become the world’s largest provider of electronic healthcare records and practice management software to the chiropractic vertical, serving over 11,000 clinics. K1 acquired ChiroTouch in August 2014 and grew the company’s recurring revenue by a factor of more than 5x in less than three years. Terms of the sale were not disclosed.
During its ownership, K1 strengthened the ChiroTouch management team, refined its go-to-market strategy, and focused the product roadmap on delivering value to chiropractic professionals. Additionally, ChiroTouch transformed the industry landscape via an aggressive add-on acquisition program, collectively bringing together five companies under the ChiroTouch umbrella.
“K1 was instrumental in re-shaping our focus on the industry and rapidly growing our business over the past three years,” says Robert Moberg, CEO of ChiroTouch. “From the start, I was impressed by the team’s knowledge of our space and the B2B software industry. Without K1’s direct sourcing focus and operational expertise, we would not be where we are today. I am incredibly optimistic about the future of ChiroTouch, and couldn’t be happier with the effort and results achieved by the ChiroTouch and K1 teams.”
Financing for the investment was provided by PNC Business Credit and Goldman Sachs BDC, Inc. “PNC shares K1’s focus on software companies with high growth potential. We value our relationship with K1 and the opportunity to provide the financing for their investment in ChiroTouch,” says Bill Kosis, CEO of PNC Business Credit.
“We are thrilled to have partnered with K1 on its investment in ChiroTouch. We believe that K1’s expertise in human capital management, sales and marketing, software development, customer support and M&A was the catalyst for ChiroTouch to drive recurring revenue growth, expand its TAM and ultimately create value for shareholders,” says Jon Yoder, Chief Operating Officer of Goldman Sachs BDC, Inc.
“We have worked closely with the ChiroTouch executive team to build the preeminent provider of software solutions for the chiropractic industry,” says Ron Cano, Partner at K1. “We were fortunate to partner with Robert and his team and look forward to their continued success.”
About ChiroTouch
ChiroTouch is the premier provider of chiropractic software technology solutions, including ChiroTouch Complete Practice Software and SmartCloud Chiropractic EHR Software. With industry-leading support, training and compliance expertise, ChiroTouch partners with practices of every type to help them easily automate operations, improve patient care and increase profitability. To learn more about the company, please visit www.chirotouch.com.
About K1
K1 is an investment firm focusing on high-growth enterprise software companies globally. K1 seeks to help dynamic businesses achieve successful outcomes by identifying and executing organic and acquisition-based growth opportunities that position its companies as industry leaders. K1 typically invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. K1's investments vary in the level of ownership in order to meet the needs of entrepreneurs and managers. For more information about K1, please visit www.k1capital.com.
Media contact: Kevin Wolf TGPR (650) 327-1641 [email protected]
