PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

MD-IT secures USD11m in equity financing from J Burke Capital Partners

Colorado-based MD-IT, a provider of medical documentation services and software for physician offices and ambulatory clinics, has closed USD11m in Series B private equity funding from J

Colorado-based MD-IT, a provider of medical documentation services and software for physician offices and ambulatory clinics, has closed USD11m in Series B private equity funding from J Burke Capital Partners, a New York-based private equity firm focused on small to mid-sized companies.

MD-IT will use the funds to finance the company’s continued growth through acquisition of regional transcription companies, as well as to enable additional investment in its technology and to expand sales and marketing efforts.

First Analysis Securities Corporation’s investment banking division acted as exclusive financial adviser to MD-IT on this transaction.

Eric Lauerwald, member of J Burke Capital Partners, says: "We are excited about the opportunity to partner with a management team of such depth – a team that has demonstrated its capability to execute a well-conceived, multifaceted growth strategy. MD-IT has developed a platform that efficiently provides best-in-class solutions to a highly fragmented, underserved sector."

MD IT specializes in serving physician offices and ambulatory clinics, a market estimated at USD7bn out of the USD10bn spent annually on medical transcription in the US. Hospitals account for the remaining USD3bn.

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured

Blackstone Private Equity