|By Business Wire||
|January 24, 2013 09:01 AM EST||
Praesidian Capital, a leading provider of senior and subordinated capital for small and mid-sized businesses, announced today it has invested second lien debt capital in Etransmedia Technology, Inc. (“Etransmedia”) 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 recognized 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,” noted Etransmedia Chairman and Co-founder Vikash Agrawal. “First, it will replace existing debt, and second, the investment includes funds for future opportunistic acquisitions.”
According to Jason Drattell, founding partner of Praesidian Capital, “We are very pleased to invest in this technology leader in a $17 billion 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.”
About Etransmedia Technology, Inc.
Etransmedia is a leading 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 country’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 12,500 providers and 30,000 users. For more information, please visit www.etransmedia.com.
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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