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NEW YORK | January 2015
New Funding Supports Acquisition of DoctorsXL, LLC to Expand Company’s Customer Base
NEW YORK – January 8, 2015 – Praesidian Capital, along with co-investor Kemper Insurance, has increased its investment in Etransmedia Technology, Inc. (“Etransmedia”). Praesidian is a leading provider of senior and subordinated capital for small and mid-sized businesses.
Etransmedia is a fast-growing, national information technology company that provides software and services to the healthcare industry. Based in Troy, NY, the 15-year-old company delivers a comprehensive package of services and software solutions that automate processes, maximize cash flow and enable seamless communication to create a connected healthcare environment.
The latest Praesidian investment supports Etransmedia’s merger with DoctorsXL, which provides outsourced services, contract negotiations, technology management and practice management for medical practices in 10 states. Founded in 2008 in Reno, NV, the company provides Revenue Cycle Management (RCM) and practice management services.
“Praesidian stepped in two years ago to finance our company’s growth which allowed us to refinance our debt,” stated Etransmedia Chairman and Co-Founder Vikash Agrawal. “They have come back twice to provide further growth funding. We are very grateful to have such a complementary financial partner for our business.”
According to Jon Mansfield, Partner of Praesidian Capital, “With our third investment in the company, we are pleased with Etransmedia’s critical growth trajectory. The new acquisition will further expand Etransmedia’s geographic footprint and provide cross-selling opportunities for its software solutions. We anticipate continued progress in the coming year as management builds Etransmedia’s customer base in the $38 billion RCM industry.”
About Etransmedia Technology, Inc .
Etransmedia is a leading national healthcare information technology company delivering integrated software, service and connectivity solutions to simplify critical functions in the healthcare industry. Etransmedia customers include some of the company’s leading healthcare systems and hospitals, as well as affiliated physician practices. With more than 400 employees, the company operates nationally and reaches more than12,000 providers and 40,000 users. In 2014, Etransmedia was named in the Inc. 500 list for fastest-growing private companies for its eighth consecutive year and Deloitte Technology Fast 500 award for its fourth consecutive year. For more information, please visit www.etransmedia.com.
About Praesidian Capital
Praesidian Capital is an innovative private investment firm focused on providing senior and subordinated debt along with growth capital to private lower middle market businesses in the United States, United Kingdom, Germany, and selectively in Northern Europe. Praesidian invests in established, small and mid-sized companies often in connection with management buyouts, recapitalizations and refinancings. Based in New York City with an office in London, Praesidian manages nearly $1 billion in committed capital. For more information, visit www.praesidian.com.
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