SEATTLE, October 8, 2007 – Baird Capital Partners (BCP), the U.S.-based buyout fund of Baird Private Equity, announced today it has acquired Seattle-based MedData. MedData, a premier medical billing, coding, and data management company, has provided services exclusively to hospital emergency departments nationwide since 1980.
As a part of the transaction, BCP appointed Douglas S. Thompson as the company’s new CEO. Thompson is a highly accomplished senior executive with a 15-year track record of success in the billing and payment processing industry. He previously served as CEO of Open-c Solutions (billing and customer care), President of NWP Services (billing and collections), CEO of Avolent (electronic billing presentment and payment), and President of DST Output’s Electronic Commerce division (billing).
Richard Pugh, Founder and retiring CEO, will remain a significant shareholder and active member of MedData’s Board of Directors.
Randy Mehl, BCP Partner, said, “Mr. Thompson’s leadership and experience, complemented by BCP’s financial resources and deep expertise in healthcare and payment processing, should provide the ideal platform for the next phase of growth for MedData.”
“We’ve been seeking an investment in the medical revenue cycle management area for over a year, and MedData brings together all the elements of a solid platform,” Mehl added. “MedData’s focus on operational excellence has led to healthy client satisfaction and a recurring customer base. BCP’s deep network of operating professionals and significant offshore expertise will support management’s efforts in adding value to this platform. We are thrilled about this partnership and the opportunity to help take MedData to the next level.”
Thompson said, “All the information we’ve reviewed indicates that MedData is more effective and efficient than its peers in coding, billing, and collecting for physician clients. I’m excited about working with the team at MedData in continuing to aggressively extend these advantages to existing clients and new prospects.”
Since 1980, MedData has provided medical billing, coding and data management services to emergency medical physicians and facilities and hospitals nationwide. Using a proprietary technology platform and coding/billing processes, MedData guarantees clients minimum collection levels and provides information and services to assist clients in managing their practices. This comprehensive revenue cycle management solution allows clients to focus on the practice of medicine. For more information, please visit www.meddata.com.
About Baird Capital Partners
Baird Capital Partners, the U.S.-based buyout fund of Baird Private Equity, provides change-of-control and growth capital to middle-market companies in the Business Services and Manufactured Products sectors. Baird Capital Partners leverages its in-depth sector knowledge, experienced investment team and extensive operating resources to drive value in its portfolio companies. Baird Capital Partners is supported by operating resources in China (Beijing, Hong Kong, and Shanghai) and India (Bangalore), focused on facilitating and executing Asia sourcing, manufacturing and distribution strategies for BCP’s portfolio companies. For more information, please visit www.bairdcapitalpartners.com.
Baird Private Equity, the global private equity group affiliated with Robert W. Baird & Co. (Baird), makes venture capital, change-in-control and growth equity investments in the United States through Baird Venture Partners and Baird Capital Partners and in Europe through Baird Capital Partners Europe and Granville Baird Ltd, an affiliated fund manager that invests in Germany. With more than 40 investment professionals in the United States and Europe and over 20 operating professionals in Asia, Baird Private Equity has raised and managed $2.2 billion in capital. For more information, please visit www.bairdprivateequity.com.