|[January 24, 2013]
Praesidian Capital Invests in Etransmedia Technology, Inc.
NEW YORK --(Business Wire)--
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
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 seond consecutive year by the Deloitte (News - Alert) 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
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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