CHICAGO, Sept. 5, 2014 - Baird Capital, the private direct investment arm of Robert W. Baird & Co., announced today that it has completed the sale of its US Private Equity portfolio company MedData, Inc. to MEDNAX, Inc. (NYSE:MD). The terms of the deal were not disclosed.
Founded in 1980, MedData is a leading innovator in technology-and offshore-enabled revenue cycle management, with a suite of outsourced services targeted at the intersection of reimbursement and patient engagement and satisfaction. Baird Capital initially invested in MedData in 2007, and worked to grow the company from a coding and billing business focused primarily on independent physician groups to a full-service revenue cycle management business serving health systems and large physician staffing companies across multiple specialties and a leader in patient engagement solutions.
"Baird Capital has been a great partner for MedData through this time of significant growth for the company and the changing demands of the healthcare market," said Ann Barnes, MedData CEO. “We have enjoyed this relationship and value their experience in managing growing organizations.”
“We have enjoyed partnering with MedData’s talented management team to build a strong company,” said Randy Mehl, Partner, Baird Capital.
About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Since 1989, Baird Capital’s U.S. Private Equity group has invested in growing and profitable lower-middle-market companies in the Business Services, Healthcare, and Industrial and Consumer Products sectors. Having invested in more than 280 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in Asia, a proactive portfolio operations team and a deep network of relationships which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit www.BairdCapital.com.
For additional information, contact:
Angela Pittman Taylor
Baird Public Relations