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NEW YORK | February 2014
NEW FUNDING WILL SUPPORT PLANNED ACQUSITIONS TO EXPAND COMPANY’S CUSTOMER BASE
NEW YORK – February 6, 2014 – Only one year after providing capital to fund growth in a healthcare information technology company, Praesidian Capital, along with a co-investor Kemper Insurance, has invested an additional $8.3 million 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, New York, the 13-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 Revenue Cycle Management services ensure clients can benefit from the cash flow generated by faster turnaround times and a higher rate of return. Etransmedia’s software solutions include connectivity and the Connect2Care software platform which includes an integrated EHR/PM, patient engagement and personal health record, health information exchange, and ACO tools that support financial, clinical, and quality of care reporting and analytics. In 2013, Etransmedia was named in the Inc. 500 list for fastest-growing private companies for the seventh consecutive year and Deloitte Technology Fast 500 award for the third consecutive year.
“Praesidian’s initial investment a year ago of $16.0 million in subordinated debt allowed us to finance growth and refinance existing debt,” confirmed Etransmedia Chairman and Co-Founder Vikash Agrawal. “Since then, we have succeeded in expanding our geographic footprint and customer base while maintaining high levels of customer service. This new funding will further support acquisitions that will follow these objectives and keep Etransmedia in the forefront of healthcare technology companies.”
According to Jon Mansfield, Partner of Praesidian Capital, “We are very pleased with the efforts made in the past year to keep Etransmedia on a critical growth trajectory. The company has excellent proprietary technology that will only be augmented by planned acquisitions. We anticipate that the company will be able to approach double-digit growth over the next few years.”
About Etransmedia Technology, Inc.
Etransmedia is a leading national healthcare information technology company delivering comprehensive integrated software, service and connectivity solutions to simplify critical functions in the healthcare community. Etransmedia customers include some of the company’s leading healthcare systems and hospitals, as well as affiliated physician practices. With 400+ employees, the company operates across 43 states and reaches more than 12,000+ providers and 40,000 users. For more information, please visit www.etransmedia.com.
About Praesidian Capital
Praesidian Capital partners with small and mid-sized businesses by providing private debt capital. With a focus on its core competency in senior and subordinated financing, Praesidian invests in established, historically profitable companies often in connection with a management/leveraged buyout, recapitalization or refinancing. Based in New York City, Praesidian manages more than $700 million in committed capital. For more information, visit www.praesidian.com.
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