SEATTLE, October 27, 2008 – Baird Capital Partners (BCP), the U.S.-based buyout fund of Baird Private Equity (BPE), today announced that its portfolio company MedData, Inc., the premier provider of emergency department and hospitalist coding, billing and data management services, has acquired Summit Health Care Services (“Summit”). The acquisition of the Brecksville, Ohio-based company combines two of the most recognized and respected providers of emergency medicine revenue cycle management services, further enhancing MedData’s operational scale and customer service resources.
Baird Capital Partners and management provided equity funding and Associated Bank provided a credit facility for the acquisition.
“When Baird Capital Partners began working with MedData management, our goal was to build an industry-leading, national platform for emergency medicine revenue cycle management services. The addition of Summit enhances customer service and operational capabilities in the eastern U.S. and is a key step towards realizing our goal,” said Randy Mehl, BCP Partner.
“We are very excited to join the MedData team,” said Joe LaMagna, an owner of Summit and the current President of the newly formed Summit division of MedData. “Through increased scale, the sharing of best practices and access to greater resources, the combined organization has enhanced ability to serve our customers.”
“MedData is very pleased to add Summit to our platform,” said Douglas Thompson, MedData’s Chief Executive Officer. “Both Summit ’s and MedData’s clients will benefit from this combination as we leverage our significant experience and scale in coding, billing and receivables management. Our goal is simple: to provide the best value of any billing company to our clients. We focus on accurate coding, increased client receipts, and best-in-class information and client support to help our clients optimize their practices.”
####
About MedData
Based in Seattle , WA , MedData is the premier provider of emergency medicine and hospitalist medical revenue cycle management services. Since 1980 MedData has provided medical coding, billing and data management services to emergency medicine and hospitalists physician groups and staffing firms nationally. With an innovative technology platform, a focus on process management and a reputation for excellent client service, MedData has grown to become an industry leader serving over 140 sites in 30 states. For more information, please visit http://www.meddata.com.
About Baird Capital Partners
Baird Capital Partners, the U.S.-based buyout fund of Baird Private Equity , invests in lower middle-market companies in the Manufactured Products and Business Services sectors. Established in 1989, Baird Capital Partners leverages its deep 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 ) that facilitate and execute Asia sourcing, manufacturing and distribution strategies for Baird Capital Partners’ portfolio companies. For more information, please visit http://www.bairdcapitalpartners.com.
Baird Private Equity , the global private equity group affiliated with Robert W. Baird & Co. (Baird), makes venture capital, growth equity and buyout investments in smaller, high potential companies in the United States through Baird Venture Partners and Baird Capital Partners, in China through Baird Capital Partners Asia, and in Europe through Baird Capital Partners Europe and Granville Baird, an affiliated fund manager that invests in Germany. Baird Private Equity has a global team of 80 professionals in nine offices across the United States , Europe and Asia, including approximately 20 operating professionals in Asia . Baird Private Equity and its affiliates have raised and managed approximately $2.4 billion in capital and invested in over 225 companies since the 1980s. For more information, please visit http://www.bairdprivateequity.com.
Contact Baird Capital Partners
Randy Mehl
Partner, Baird Capital Partners
414-765-3818
Anne Crago
PR Coordinator, Baird
414-298-6081
