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Digitech Receives Investment From Pamlico Capital
CHAPPAQUA, N.Y., June 21, 2019 /PRNewswire/ -- 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).
Digitech is a leading provider of advanced billing and technology services to the EMS transport industry. Since its founding in 1984, Digitech has refined its software platform to create a cloud-based billing and business intelligence solution that monitors and automates the entire EMS revenue lifecycle. Digitech leverages its proprietary technology to offer fully outsourced services that maximize collections, protect compliance and deliver results for clients.
For additional information, please visit digitechcomputer.com.
About Pamlico Capital
Pamlico Capital is a private equity firm founded in 1988 that invests in lower middle market companies in the U.S. Pamlico Capital seeks control-oriented growth equity investments alongside proven management teams in its target industries: business & technology services, communications and healthcare. Since inception, the firm, based in Charlotte, North Carolina, has invested over $3 billion.
For additional information, please visit pamlicocapital.com.
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