New Mountain Capital and HealthPort-IOD, a portfolio company of New Mountain Capital since December 2014, has acquired ECS, a provider of on-demand access to medical records.
ECS utilizes its technology-enabled workflow tools to retrieve and deliver over four million medical charts each year and has access to over 65,000 provider sites nationwide. The company has full geographic coverage with the ability to retrieve medical information in all 50 states. ECS was founded in 1999 and is headquartered in Phoenix (www.myecsinc.com).
HealthPort-IOD is a provider of medical information access management and compliance services to healthcare organizations. The company also provides coding, audit management, denial management and document management services. HealthPort and IOD announce a merger of the two companies in May 2015. The company is headquartered in Alpharetta, GA (www.healthport.com).
The acquisition of ECS by HealthPort-IOD increases the automated capability for retrieving and delivering medical information. The senior leadership team of ECS will remain in place post-acquisition and will lead the record retrieval operations of the combined business.
“We have been very impressed with the business that the ECS team has built, especially with respect to the speed, quality, and scale of its product and technology offerings. We look forward to working with the team as we integrate HealthPort, IOD and ECS into a large scale technology-enabled clinical information provider,” said Matt Holt, Chairman of the Board of the combined company and Managing Director of New Mountain.
“ECS is a critical component of the clinical data company we are building. The company brings us the best medical record retrieval capability available in the market as well as a footprint of over 65,000 provider sites. The addition of ECS complements HealthPort-IOD’s existing offering and expands the combined company’s ability to provide secure access and delivery of medical information across the entire healthcare ecosystem,” added Mr. Holt.
New Mountain Capital currently manages private and public equity funds with over $15 billion of assets under management. The firm is an industry generalist but has specific expertise in education, health care, software, business services, logistics, specialty chemicals, federal services, media, consumer products, financial services and insurance, environmental services, infrastructure and energy. New Mountain was founded in 1999 and is headquartered in New York (www.newmountaincapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 9-22-15
