emids Technologies announced today a joint investment of $13.3 million by Baird Capital's venture capital group of Chicago and Nashville, Tenn.-based Council Capital that will enable the company to build on its leading position in the provision of healthcare IT services and solutions. Brentwood Capital Advisors served as exclusive financial advisor to emids in this transaction.
The investment marks a major milestone for emids, setting the stage for the company to continue its rapid organic growth and to pursue selective acquisitions. The company has experienced sustained rapid growth over the past five years, increasing revenue at a compound annual growth rate of more than 40% over the period.
"This investment validates our business model and the scalable platform we have built to provide services and solutions to our customers," said Saurabh Sinha, President and CEO of emids. "Baird Capital and Council Capital are the ideal partners to work with to expand emids and meet the growing demand for information technology and business process services tailored to the unique needs of healthcare organizations."
Both investment groups have a special focus on the healthcare industry. The venture capital group at Baird Capital partners with high-growth companies in healthcare and technology-enabled services. Council Capital is a private equity firm that invests exclusively in high-growth healthcare IT and healthcare services companies.
"emids is part of the next wave of Nashville healthcare entrepreneurship - in health IT and other services - that will remake healthcare," said Grant Jackson, General Partner of Council Capital. "We look forward to working with Saurabh and his excellent team to expand emids into additional growth areas to broaden the suite of services available to its customers."
Jim Pavlik, Partner at Baird Capital, said: "We have been impressed with the strong growth rate, market share and high customer satisfaction achieved by the emids team. We look forward to supporting their vision of being the partner of choice in the HIT services and solutions arena."
Both Jackson and Pavlik have joined the board of emids.
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