Accel-KKR has acquired a majority stake in EA Holdings. Financial terms weren’t announced. The deal includes EA businesses National Electronic Attachment and Medical Electronic Attachment. National Attachment and Medical Attachment provide electronic attachment services that helps payors and providers automate the healthcare claims process.
MENLO PARK, Calif. and NORCROSS, Ga., Sept. 11, 2013 /PRNewswire/ — Accel-KKR, a technology-focused private equity investment firm, today announced it has made a majority investment in EA Holdings, Inc. to accelerate the company’s growth. EA Holdings’ businesses National Electronic Attachment, Inc. (NEA) and Medical Electronic Attachment, Inc. (MEA) are leaders in secure health information exchange. Terms of the investment were not disclosed.
NEA and MEA offer solutions that enable the capture, transmission and storage of medical and dental information such as medical attachments (e.g., x-rays, test reports, etc.), records and audits. The MEA and NEA businesses have provided efficient, secure, and electronic-based solutions as health plans and providers have sought to eliminate inefficient, paper-based processes while meeting HIPAA-related security requirements.
Accel-KKR Managing Directors Rob Palumbo and Jason Klein said: “We are excited to partner with CEO Lindy Benton and the EA team as they continue to expand their well-established technology platform that supports payors and dental and medical providers in digitally exchanging claims attachments and other key information. This investment fits well with our focus on investing in, and supporting growth-oriented, market leading software and technology‐enabled services businesses.”
Lindy Benton, CEO of EA Holdings, said: “Over the past 16 years, we have generated strong growth as our secure health information exchange solutions have been established with tens of thousands of providers. The investment from Accel-KKR will enable our company to continue its growth in the dental and medical markets, both of which are expected to expand due to several key macro drivers, including the continued industry shift toward paperless systems and growth in the number of insured. The Accel-KKR team has deep knowledge of software and extensive experience and they will be an excellent partner as we grow.”
About EA National Electronic Attachment (NEA) along with its sister company Medical Electronic Attachment (MEA) are recognized leaders in secure health information exchange, offering solutions that enable the capture, transmission, storage and retrieval of medical documentation through the MEA/NEA Information Exchange Engine (IEE). The companies’ solutions can be used for claim attachments, HEDIS, quality reviews, Medicare Risk Adjustment, CMS audits and all current and future esMD certified Health Information Handler use cases, unstructured health information exchange, patent-pending HIPAA-secure mobile capture and storage and more. Its mission is to provide value for its clients through its advanced technology and innovative products and services designed to remove manual and paper-based workflows. For more information, visit www.nea-fast.com or www.mea-fast.com.
About Accel‐KKR Accel‐KKR is a technology‐focused private equity firm with over $2.3 billion in capital under management. The firm invests primarily in software and IT‐enabled businesses well positioned for top‐line and bottom‐line growth. At the core of Accel‐KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel‐KKR network. Accel‐KKR focuses on middle market companies, providing capital for buyouts and growth investments across a range of opportunities including recapitalizations, divisional carve-outs and going private transactions. For more information, please visit www.accel-kkr.com.