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Santa Clara, CA, June 6, 2022 – LeanTaaS Holdings, Inc. (the “Company”), a leading provider of cloud software solutions for optimizing hospital operations and capacity management, today announced that Bain Capital Private Equity (“Bain Capital”) has acquired a majority stake in the Company from existing investors Insight Partners and the Growth Equity business within Goldman Sachs Asset Management (“Goldman Sachs”). The transaction includes a significant growth capital commitment from Bain Capital that will enable LeanTaaS to continue to accelerate its rapid growth trajectory and innovative market-leading suite of cloud software solutions. Insight Partners and Goldman Sachs will each retain a material stake in the Company, which will continue to be led by its current management team, including Founder and CEO Mohan Giridharadas. Financial terms of the private transaction were not disclosed.

LeanTaaS Announces Growth Investment by Bain Capital Private Equity to Fuel Leading AI-Driven Platform for Hospitals to Achieve Operational Excellence

LeanTaaS’ cloud-based iQueue solutions help hospitals transform their approach to care delivery and improve capital and scarce resource decision-making by optimizing the utilization of critical assets including operating rooms, infusion chairs, and hospital beds. Leveraging a combination of cutting-edge AI, data science, and lean optimization principles, LeanTaaS has designed a powerful set of predictive analytics solutions that seamlessly integrate into workflows and enable health systems to unlock capacity, reduce patient delays, and grow revenue, while improving patient and provider care experiences. As a result, the Company delivers a compelling value proposition to the entire care ecosystem. Its long-term vision is to manage the operational application of patient flow and capacity optimization across the continuum of care on one single platform, effectively becoming the “air traffic control center” for a health system.

The Company has achieved rapid growth and counts more than 500 leading hospitals and 130 health systems across the U.S. as customers, including 12 of the top 20 health systems in the country according to the US News & World Report Honor Roll. iQueue for Operating Rooms is used by more than 2,500 ORs across 47 health systems to improve surgical capacity utilization, attract new surgical volume, and improve the patient experience. iQueue for Infusion Centers is used by nearly 500 infusion centers, with over 10,000 chairs across 105 health systems with a customer base that includes over 80 percent of the National Comprehensive Cancer Network and nearly 60 percent of National Cancer Institute-Designated Cancer Centers. iQueue for Inpatient Beds, launched in 2021, is scaling at a fast pace with several marquee customers using the product across multiple locations. Organizations currently using LeanTaaS’ iQueue platform include many of the most prestigious health systems in the country including Stanford Health Care, New York-Presbyterian, Memorial Sloan Kettering Cancer Center, Penn Medicine, UCHealth, MD Anderson Cancer Center, Yale New Haven Health, CommonSpirit, and US Oncology, among others.

“We have developed a unique and disruptive approach to improving patient access and unlocking scarce capacity within hospitals and health systems. We are proud of the progress we have made in transforming mission-critical healthcare operations and are excited by the opportunity to continue to
expand our suite of innovative solutions for our customers,” said Giridharadas. “We want to thank
Insight Partners and Goldman Sachs for their help supporting the business during their ownership and

positioning us for success in the next stage of our growth. We are delighted to partner with Bain Capital going forward as they share our vision for building a broader healthcare optimization platform and have an excellent track-record of building and scaling leading healthcare technology companies. This
significant growth investment will provide us with valuable resources to accelerate our impact.”

“Mohan and his team have built an exceptional business that is at the forefront of AI in healthcare, creating exceptional value for customers and poised for continued rapid expansion. We are thrilled to support LeanTaaS’ vision for transforming care delivery through automation and improving the quality of US healthcare,” said Devin O’Reilly, a Managing Director at Bain Capital Private Equity. “We believe LeanTaaS is well-positioned for continued long-term growth and see significant opportunity to scale the business through continued market penetration, strategic acquisitions, product innovation, and adjacent market expansion,” added Paul Moskowitz, a Principal at Bain Capital Private Equity.

Bain Capital has a long history of partnering with companies to accelerate growth in the healthcare and technology sectors. The firm’s experience in healthcare and HCIT investments include athenahealth, Grupo Notre Dame Intermedica, HCA Healthcare, HST Pathways, InnovaCare Health, IQVIA, PartsSource, Surgery Partners, Waystar, and Zelis.

“As LeanTaaS’ first financial investor in 2017, we couldn’t be more thrilled for Mohan and the entire LeanTaaS team as the company embarks on this exciting next chapter with Bain Capital,” said Peter Segall, Managing Director at Insight Partners. “From the start, we knew that LeanTaaS had the
leadership team and vision to transform hospital operations – and with their innovative cloud solutions,
they’ve done just that. Insight remains committed to supporting the company throughout its tremendous growth journey.”

The investment is expected to be completed in the third quarter of 2022 and is subject to regulatory approvals and customary closing conditions.

William Blair is acting as the financial advisor and Willkie Farr & Gallagher LLP is serving as legal counsel to LeanTaaS. Evercore is serving as financial advisor and Kirkland & Ellis LLP as legal counsel to Bain Capital Private Equity.

About LeanTaaS
LeanTaaS provides software solutions that combine lean principles, predictive and prescriptive analytics, and machine learning to transform hospital and infusion center operations. The company’s software is used by over 500 hospitals and 130 health systems across the nation, which rely on the iQueue cloud- based solutions to increase patient access, decrease wait times, reduce healthcare delivery costs, and improve revenue. LeanTaaS is based in Santa Clara, California, and Charlotte, North Carolina. For more information about LeanTaaS, please visit https://leantaas.com/, and connect on Twitter, Facebook and LinkedIn.

About Bain Capital Private Equity
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 250 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare and technology. The firm has made primary or add-on investments in more than 1,000 companies since its inception. Among these investments has been partnering with dynamic healthcare companies dedicated to quality, access, innovation and improved patient outcomes (to learn more please visit https://www.baincapital.com/healthcare/), and with scale and disruptive technology
businesses where the firm’s in depth knowledge of fundamental trends, insight into evolving customer dynamics, and vertical market expertise helps accelerate growth. In addition to private equity, Bain Capital invests across asset classes including credit, public equity, venture capital and real estate, managing approximately $160 billion in total and leveraging the firm’s shared platform
to capture opportunities in strategic areas of focus. For more information, visit www.baincapitalprivateequity.com.

About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of February 24, 2022, the closing of the firm’s recent fundraise, Fund XII, brings Insight Partners’ regulatory assets under management to over $90B. Insight Partners has invested in more than 600 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Insight Partners meets great software leaders where they are in their growth journey, from their first investment to IPO.

About Goldman Sachs Asset Management Growth Equity
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure.
Since 2003 the Growth Equity business within Goldman Sachs Asset Management comprising more than 75 individuals has invested over $13 billion in companies led by visionary founders and CEOs. We focus exclusively on investments in growth stage and technology-driven companies spanning multiple industries, including enterprise technology, financial technology, consumer and healthcare. Follow us on LinkedIn.

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