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LLR Partners invests in IOD

LLR Partners, a middle market private equity firm with over USD1.4bn under management, has provided over USD35m of growth equity to IOD of Green Bay, Wisconsin.

IOD is a provider of release of information, scanning and imaging, EMR conversion, and other information services to hospitals and medical clinics across the country.

LLR is partnering with IOD’s existing management team in the transaction and will be a minority investor in the company.

Mike Wickman, chief executive of IOD, says: "We have known LLR for several years and are excited to be partnering with them to continue the rapid growth of the company. With LLR, we will have both the capital available and the expertise necessary to grow our core business and acquire complementary businesses which allow us to better serve our customers."

IOD partners with health information management departments to manage the increasing demands for more organised and accessible health data and achieve regulatory compliance. IOD’s services include end-to-end release of information services, scanning, imaging and storage of medical records, conversion of records to an EMR platform, and other information management services.

"We have been very impressed with IOD’s growth over the past few years," says Scott Perricelli, partner at LLR. "Mike and his team have focused on providing quality field personnel and high service levels. This commitment to quality has enabled them to build a large base of very loyal customers. We view IOD as a platform which can add additional service offerings in order to better serve the health information management departments of healthcare organisations."

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