July 13, 2010
LLR Partners has provided over $35 million of growth equity to IOD Incorporated of Green Bay, Wis. IOD is a leading provider of release of information, scanning and imaging, EMR conversion, and other critical information services to hospitals and medical clinics across the country. LLR is partnering with IOD’s existing management team in the transaction and will be a minority investor in the Company.
Mike Wickman, CEO of IOD, said, “We have known LLR for several years and are excited to be partnering with them to continue the rapid growth of the Company. With LLR, we will have both the capital available and the expertise necessary to grow our core business and acquire complementary businesses which allow us to better serve our customers.”
With a base of over 1,800 hospital and medical clinic customers, IOD is a leading provider of healthcare information management services. IOD partners with Health Information Management (HIM) departments to manage the increasing demands for more organized and accessible health data and achieve regulatory compliance. IOD’s services include end-to-end release of information services, scanning, imaging and storage of medical records, conversion of records to an EMR platform and other information management services. IOD employees work on site at customer locations in order to insure high quality, timely fulfillment of services and close integration with customers’ existing information work flow.
“We have been very impressed IOD’s growth over the past few years,” said Scott Perricelli, partner at LLR. “Mike and his team have focused on providing quality field personnel and high service levels. This commitment to quality has enabled them build a large base of very loyal customers. We view IOD as a platform which can add additional service offerings in order to better serve the HIM departments of healthcare organizations.”