Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Recapitalization with Abingworth
Baird served as financial advisor to Secure EDI on this transaction
Secure EDI has completed a recapitalization with Abingworth. Abingworth committed up to $40 million for the recapitalization that will provide some liquidity for early investors in Secure EDI as well as provide additional capital for investment in the business and acquisitions.
Secure EDI is a Healthcare IT firm that is pioneering electronic solutions for enhancing the efficiency and the quality of health and dental care. Based on proven platforms, Secure EDI assures seamless interfaces among healthcare and dental providers and payers. Secure EDI capabilities include on-line coverage verification, real time adjudication of claims, electronic funds transfer, on-line reconciliation and a full range of informatics for payers and providers. Currently operating in the U.S. and Puerto Rico, Secure EDI is led by Barry Byrd, Jose Angeles and Severiano Lopez-Marrero.
Abingworth is an international investment group dedicated exclusively to the life sciences and healthcare sector. The company invests at all stages of development including early and late-stage venture financing, growth equity and public companies.