Covington-based Netchex, a 20-year-old company that provides online payroll and human resources services to more than 6,400 clients across the U.S., has been acquired by a New York-based private equity firm, GrowthCurve Capital, marking the latest successful purchase of a homegrown tech startup by national investors.

Terms of the deal were not disclosed. But Netchex, which has annual revenues of more than $50 million, will keep its headquarters on the Northshore, where it has been located since friends Will Boudreaux and Stu Ethridge founded the company in 2003.  Both Boudreaux and Etheridge, who retained an ownership stake in Netchex, will remain in executive positions with the company. Netchex’s 340 employees, some 200 of whom are based at the Covington office, also will remain in their current positions.

Over the years, Netchex has been supported by LED, St. Tammany Corp., and GNO, Inc., which assisted with recruiting and incentives.

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In important destination healthcare news for the entire GNO region, Ochsner Health and The University of Texas MD Anderson Cancer Center have announced a partnership that forms the Ochsner MD Anderson Cancer Center in southeastern Louisiana. The new center gives cancer patients in our region access to treatments that are among the most advanced in the nation, and positions Ochsner to be the first and only provider in Louisiana with a fully integrated cancer program based on MD Anderson’s standards and treatment plans, and one of only seven MD Anderson partners in the country.


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