Fri, 25/01/2013 - 12:02
Praesidian Capital, a provider of senior and subordinated capital for small and mid-sized businesses, has invested second lien debt capital in Etransmedia Technology to replace existing debt and provide capital to fund growth.
Etransmedia is a fast-growing information technology company that provides software and services for financial and clinical management. Based in Troy, New York, the 12-year-old company provides revenue cycle management services to streamline claims and billing process along with integrated practice management and electronic health record systems for healthcare providers.
Etransmedia’s software solutions include patient identity management, discreet clinical data repository, orders and results portal for providers, patient portal, and analytics tools that support financial, clinical, and quality of care reporting.
Etransmedia has grown through product innovation and strategic acquisition to serve 12,500 providers and 30,000 users across 43 states. In 2012, Etransmedia was named in the Inc. 5000 list of fastest-growing private companies for the sixth consecutive year and was recognised for the second consecutive year by the Deloitte Technology Fast 500 as one of the fastest growing technology companies in North America.
“Praesidian’s investment will allow us to accomplish two strategic goals,” says Etransmedia chairman and co-founder Vikash Agrawal. “First, it will replace existing debt, and second, the investment includes funds for future opportunistic acquisitions.”
Jason Drattell, founding partner of Praesidian Capital, says: “We are very pleased to invest in this technology leader in a USD17bn sector that is destined to grow and require greater technology resources. Etransmedia has an impressive client base and excellent proprietary technology. We look forward to working with the Etransmedia team as the company continues to grow.”
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