Backing an innovative electronic medical records pioneer
Founded in 1998, Greenway Medical Technologies is a leading provider of innovative software and service solutions that allow physicians and their practices to improve clinical care and optimize efficiency. Greenway's flagship software product, PrimeSuite®, is an integrated electronic health record (EHR) and practice management solution that provides exceptional functionality, interoperability, connectivity and return on investment. Established in 1998, Greenway Medical Technologies is a privately-held company with more than 810 employees.
Pamlico first established a relationship with Greenway’s management team by reaching out directly through proprietary means and establishing a partnership in October 2006. Pamlico based its investment in Greenway Medical Technologies on our previous investment experience in the healthcare IT sector and the projected growth of the EHR market, which we anticipated would continue to expand as providers increasingly embraced automation to enhance clinical and financial outcomes and meet the demands of patients, payers, and governmental entities.
During our partnership, the Pamlico team has assisted Greenway with the company’s strategy (including M&A activities), financing, and management recruiting. Greenway was eager to reach new audiences and offer the same high levels of quality and service to a larger customer base, and Pamlico’s investment and guidance provided the means necessary to allow for greater resources and flexibility in achieving these goals.
Since closing the initial investment in late 2006, Greenway has more than quintupled its revenue base to in excess of $130 million through organic growth. The company completed a highly successful initial public offering in February 2012 (NYSE: GWAY) and was acquired by Vitera Healthcare Solutions in November 2013 for $644 million.