Welcome Visitor Thursday, December 12, 2019
Briefly: Petra Capital invests in med transcription company
Comment Print

Petra's David Fitzgerald

Nashville-based Petra Capital Partners has invested $6 million in sub-debt and preferred stock in Plano, Texas-based Superior Global Solutions Inc.

According to a Petra release, SGS "used a portion of the proceeds to buyout a minority shareholder and to make a strategic technology acquisition."

SGS says it provides medical documentation, coding and technology enabled services to some of the largest hospitals and health systems in the country.

The news marks Petra's fourth investment in 2009 and its sixth investment from Petra Growth Fund II, L.P., which has about $160 million of capital available.  During its current fiscal year, Petra's deals have included, in addition to SGS, Hospital Clinical Services (Nashville); NuView Systems (Boston) and York Telecom (Eatontown, NJ).  Petra's current portfolio has recently included HealthTeacher (formerly ConnectivHealth) and American Hometown Publishing.

Petra Managing Partner Mike Blackburn and Venture Partner David Fitzgerald will join the SGS board of directors. Blackburn provided VNC a copy of the Petra GF II fact sheet (does not show SGS), and that pdf is here.

SGS CEO Greg Hackey said in today's release, "We're excited about Petra Capital Partners' deep experience working with healthcare services and technology companies and the opportunity to work with their talented team of professionals. "

Fitzgerald was quoted saying, in part, "Hospitals and health systems are searching for technology enabled solutions that lower costs, improve workflows and accelerate the revenue cycle.

"SGS addresses these issues by providing its clients with a bundled solution, comprised of professional services and innovative technology," according to Fitzgerald.
 

Related Articles
Share:
Tags: American Hometown Publishing, ConnectivHealth, David Fitzgerald, Greg Hackey, health IT, HealthTeacher, Hospital Clinical Services, Mike Blackburn, NuView Systems, Petra Capital Partners, private equity, Superior Global Solutions, transcription, venture capital, York Telecom


Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: