Council Capital, a healthcare-focused private equity firm based in Nashville, and Baird Capital, the direct private investment arm of Baird based in Chicago, have sold their stakes in emids to New Mountain Capital.
Terms of the transaction have not been disclosed. Both firms initially invested in emids in 2013.
emids is a global provider of technology services and solutions for healthcare payers and providers. The company’s services include consulting, custom application development, and data solutions that support EHR application deployment and management, analytics, data integration and governance, software development and testing, and business intelligence. emids is headquartered in Nashville.
Since 2013, emids has grown exponentially by expanding its offerings, growing its customer base, and acquiring Encore Health, which expanded its coverage in the provider market. emids’ success has been reinforced by its outstanding team, who are responsible for emids consistently achieving strong KLAS ratings – the standard for assessing vendor quality in the healthcare market.
“We sincerely enjoyed partnering with the team at emids and are excited for the company to continue its growth,” says Grant Jackson, Managing General Partner at Council Capital. “emids is well positioned to continue to capitalise on the tremendous opportunities within the healthcare information technology services sector, and we are confident that the company will continue to thrive in partnership with New Mountain Capital.”
“We consider ourselves fortunate to have worked with emids and its talented leadership team over the last six years,” says Jim Pavlik, Partner at Baird Capital. “We are proud of emids’ growth and leadership in enabling digital transformation in the healthcare industry and are excited about the company’s opportunity to drive further innovation and value for its clients in its next phase of growth.”
Saurabh Sinha, Founder and CEO of emids, adds, “We have appreciated our partnership with Council Capital and Baird Capital over the last six years. Fast-growing companies don’t have trouble accessing capital. What I needed was access to proven company builders who share best practices, open doors to fuel growth and are people I trust to have the company’s best interests at heart. Both Council and Baird delivered on this for us.”
