BV Investment Partners Acquires EDCO Health Information Solutions to Expand Healthcare and Software Development Capabilities

On November 17, 2019, VCBeat (WeChat ID: vcbeat) learned via Business Wire that private equity firm BV Investment Partners announced the acquisition of healthcare and software development company EDCO Health Information Solutions (EDCO). No financial terms of the transaction were disclosed.

In this acquisition, CIBC Cleary Gull will serve as the exclusive financial advisor to EDCO Health Information Solutions Inc., Horwood Marcus & Berk will act as legal counsel for EDCO Health Information Solutions Inc. in the transaction, and Ropes & Gray will serve as legal counsel to Boston Ventures.

EDCO, headquartered in St. Louis, Missouri, USA, is a healthcare and software development company. The company is dedicated to developing innovative software that provides intelligent medical record and indexing solutions for the healthcare industry, delivering comprehensive and robust information to healthcare professionals and patients alike. EDCO’s mission is to provide high-quality care services to its clients, and the company currently employs more than 300 people.

As a provider of data indexing solutions for the healthcare industry, EDCO remains dedicated to the development and application of technology. The company’s Solarity software, powered by natural language processing (NLP) technology and a proprietary recognition engine, integrates with electronic health record (EHR) systems at healthcare institutions to automatically convert unstructured data into clinically relevant information.

EDCO develops differentiated solutions centered on EHR data synchronization and quality control, catering to a broad range of market demands. The company enjoys a strong reputation among major technology providers and health systems in North America. EDCO stated that it will leverage its unique advantages to continue developing novel integration methods, software, and unstructured data visualization technologies, aiming to transform clinical workflows, enhance patient satisfaction and hospital care quality, while generating significant cost savings for the industry.

Boston Ventures, founded in 1983 and headquartered in Boston, Massachusetts, is a financial services and private equity firm. The company primarily invests in the information technology, business services, and mobile communications sectors, ranking among the oldest and most experienced sector-focused private equity firms in North America. Since its inception, Boston Ventures has invested in more than 80 companies, with total cumulative investments exceeding $2.7 billion. Currently, Boston Ventures is raising capital for its ninth private equity fund.

Vik Raina, Executive Partner at BV Investment Partners, stated, “Our investment in EDCO reflects our commitment to supporting the healthcare industry. EDCO has introduced novel diagnostic and treatment workflows that differ from traditional medical models, helping hospitals address management challenges. By delivering data in a cost-effective and compliant manner, they have enhanced satisfaction among both healthcare providers and patients.”

Sean Wilder, Head of Boston Ventures, said, “We are honored to serve as EDCO Health Information Solutions’ financial partner. Boston Ventures will continue to support Andrew and his team in delivering advanced technology platforms to the healthcare market.”

(Compiled by Xu Xiaoxue)