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ImageTrend Announces Strategic Growth Investment from Welsh, Carson, Anderson & Stowe
LAKEVILLE, Minn., February 10, 2023-- ImageTrend, Inc., a growing, market-leading software solutions and services provider in the public safety and healthcare communities, announced an equity investment from Welsh, Carson, Anderson & Stowe ("WCAS"), a leading technology and healthcare-focused private equity firm. WCAS's investment seeks to help accelerate growth, further product innovation, and maintain the best-in-class software and customer service that ImageTrend is known for. The Company intends to utilize the investment to create new solutions that will benefit the industries and clients ImageTrend serves.
Dedicated to the mission of connecting life's most important data, ImageTrend delivers software solutions, data analytics, and services to EMS, hospital, fire, mobile integrated healthcare/community paramedicine (MIH/CP), critical care, licensing, billing/revenue cycle management, and emergency preparedness personnel. ImageTrend's suite of solutions facilitate a fully connected, patient-centric healthcare and public safety continuum.
With 25 years of experience in developing enterprise software, ImageTrend's commitment to their clients, innovation, and world-class service has enabled the Company to deliver its solutions at the federal, state, regional, city, and organizational level, both in the private and public sector. The Company serves 40+ states and nearly 3,000 customers in the U.S. and internationally. Collaborating with WCAS, a firm with deep domain expertise in enterprise software and healthcare, aims to create strong alignment for continued organic growth and expansion to best serve these customers.
"We are excited to partner with WCAS to collectively bring our connected vision to healthcare and public safety," said Joe Graw, ImageTrend's President and Chief Executive Officer. "It's an honor to lead innovation that directly benefits the safety of our communities and the overall health of the population."
"WCAS is excited about our investment in ImageTrend, a market leader in the public safety space. We are impressed with the Company's suite of mission critical software solutions, its deep customer relationships, and the breadth of industry experience from leadership. We are thrilled to support Joe and the existing management team's vision of building and delivering world-class software and analytics solutions into the public safety and healthcare end markets," said WCAS General Partner Ryan Harper.
WCAS General Partner Ed Sobol added, "ImageTrend sits at the intersection of the Technology and Healthcare industries, the two industries in which WCAS focuses on building durable, innovative, and market-leading companies. Given the increasing importance surrounding pre-hospital data access in improving patient outcomes across the healthcare continuum, we look forward to partnering with ImageTrend to continue the advancement of their vision to connect life's most important data."
Concurrent with WCAS's investment into ImageTrend, Ryan Harper, Ed Sobol, Sanjay Palakshappa, and Betty Vo will join the Board of Directors alongside ImageTrend Founder Mike McBrady and CEO Joe Graw.
Baird acted as the financial advisor to ImageTrend. Kirkland & Ellis served as legal counsel and Shea & Co. served as financial advisor to WCAS.
About ImageTrend, Inc.
ImageTrend, Inc. is dedicated to connecting life's most important data in the healthcare and emergency response community. ImageTrend delivers software solutions, data analytics and services for EMS, hospitals, community paramedicine (CP), critical care, fire, and preparedness to enable fully integrated patient-centric healthcare and public safety. ImageTrend's commitment to innovation, its clients, and providing world-class implementation and support is unsurpassed. Based in Lakeville, Minn., ImageTrend combines business analysis, creative design and data driven architecture to offer scalable solutions and strategies for today and the future. To learn more about ImageTrend, visit www.imagetrend.com.
WCAS is a leading U.S. private equity firm focused on two target industries: technology and healthcare. Since its founding in 1979, the firm's strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, growth initiatives and strategic acquisitions. The firm has raised and managed funds totaling over $30 billion of committed capital. For more information, please visit www.wcas.com.
Greg Lau, General Partner