Digitech Receives Investment from Pamlico Capital
Strategic growth investment supports Digitech’s continued success as it enters a new phase of growth
Pamlico Capital (“Pamlico”) announced that it has entered into an agreement to make a strategic growth investment in Digitech Computer LLC (“Digitech”), a leading provider of Revenue Cycle Management (“RCM”) and technology solutions for Emergency Medical Services (“EMS”) transport providers. Founder and CEO Mark Schiowitz and the Digitech management team will maintain a significant ownership position and continue to manage the growth of the Company with support from Pamlico. Further terms of the transaction were not disclosed.
“This marks a new chapter for Digitech, and the next step in evolving the industry's foremost billing platform dedicated solely to EMS,” said Mark Schiowitz, CEO of Digitech. “Our mission is to deliver a compliant, high quality EMS billing service that maximizes revenue for clients as a result of our superior technology, integration expertise, and transparent real-time reporting. Our partnership with Pamlico gives us the opportunity to grow our offerings to support the success of our current and future clients.”
Digitech is partnering with Pamlico at an exciting time. The Company has built a large base of devoted customers and is gaining strong market momentum with continued improvements in its proprietary billing software platform and a steadfast commitment to excellent customer service. Digitech helps clients protect compliance, increase collections, and gain greater transparency by focusing on process improvement and automation throughout the entire revenue lifecycle.
“We are incredibly excited to partner with founder Mark Schiowitz and the rest of the management team,” said Art Roselle, Pamlico Partner. “Digitech has built an advanced, EMS-focused RCM platform that delivers best-in-class results for their clients. We look forward to working with the team to increase Digitech’s presence in the EMS industry and continue to innovate on its core offerings.” Pamlico Principal Scott Glass added, “We look for investments where we can work with entrepreneurs as first-time institutional partners, providing capital and strategic advice to help accelerate growth. Digitech represents a compelling growth platform, and we believe there are numerous opportunities to build on its historical success.”
Digitech will maintain its headquarters in Chappaqua, New York.
Digitech was represented by Robert W. Baird & Co. Inc. (financial advisor) and Dentons US LLP (legal advisor). Pamlico was advised by Alston & Bird LLP (legal advisor).
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: communications, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of almost $3.5 billion. For additional information, please visit www.pamlicocapital.com.