Nextech
“Can a specialty-healthcare EHR become the financial and AI operating system for ophthalmology, plastic surgery, dermatology, orthopedics, and med spa practices?”
Founded1997
HQTampa, Florida, USA
Total raised$1.4B
Latest roundBuyout by TPG (2023)
IndustryVertical SaaS / Healthcare
The story
Nextech has been a specialty-focused EHR / practice-management vendor since 1997, serving ophthalmology, dermatology, plastic surgery, med spa, and orthopedics. Under successive PE ownership (Francisco Partners → THL → TPG), the company has pushed beyond clinical software into embedded payments (Nextech Payments on Stripe, 2021 → expanded 2026 with Affirm), patient financing (CareCredit), and now vertical AI (Cora Scribe). The current strategic move is to embed intelligence and money movement into the specialty-practice workflow rather than remain a pure records vendor.
Product timeline
1997
Nextech founded in Tampa as EHR/PM software for specialty physician practices.· founding
2019
Acquired by Thomas H. Lee Partners from Francisco Partners.· acquisition
2021
Partnership with Stripe launched to deliver integrated payments to specialty medical practices.· payments
2023
TPG acquires Nextech from THL.· acquisition
2026
Relaunched Nextech Payments platform on Stripe with Affirm pay-over-time integration.· payments
2026
Launched Cora Scribe, an AI documentation product for ophthalmology.· ai
Acquisitions
The stack
4 layers disclosed in Nextech’s embedded-finance stack
Payments / PSP
Lending
in the full report
KYC
in the full report
Accounting
in the full report
Accounting gap: minor
6 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.