|Discovery Health Record Solutions Merges with HealthPort|
Company divested as part of Silverhawk Capital Partners investment strategy
November 9, 2012 – Silverhawk Capital Partners is pleased to announce the sale of its portfolio company, Discovery Health Record Solutions to HealthPort, the nation’s leading protected health information services company. Completing this sale marks the successful conclusion to the original investment we made in the fall of 2007.
During Silverhawk’s ownership, the company successfully executed a strategy to expand its market reach nationally and increase its market share in targeted healthcare provider sectors. Over the past five 5 years the company has grown revenues nearly 5 fold through direct sales initiatives and by completing 9 accretive acquisitions.
“This transaction represents the successful strategic exit we envisioned when we made our first investment in Discovery. This union with HealthPort offers the best potential outcome for all the stakeholders of Discovery, both customers and employees, as the health information services sector continues its rapid evolution”, said David Scanlan, Managing Partner of Silverhawk.
About Silverhawk Capital Partners
Silverhawk Capital Partners is an independent investment firm established in 2005 to invest in lower middle market transactions within the Growth Industrial, Energy/Natural Resources and Business Service sectors. Silverhawk typically invests between $10 million and $50 million of equity capital in growth oriented businesses with revenues ranging from $25 million to $250 million. Silverhawk has offices in Greenwich, CT and Charlotte, NC.
About Discovery Health Record Solutions
Based in Atlanta, GA, Discovery is a leading health information services provider and one of the nation’s largest processors of third party medical record requests, including Release of Information, (ROI), and has agreements with hospitals, clinics and physician practices in over 40 states. Using a comprehensive, technology based solutions approach, they address the complexities and the HIPAA regulatory aspects of satisfying patient confidentiality while helping their customers reduce compliance risks, improve productivity and enhance profitability.
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