Boston-based private equity investors Battery Ventures has bought Data Innovations, a designer of clinical laboratory software, though the details of the deal were not revealed. Data Innovations says it has 6,500 systems in 65 countries. Battery Ventures’ Dave Tabors and Chelsea Stoner join the Data Innovations board, while Mike Epplen has been named the new CEO.
Battery Ventures, a multi-stage investment firm focused on technology and innovation worldwide, today announced it has purchased Data Innovations, the worldwide leader in clinical laboratory middleware software. The transaction will enable Data Innovations to build upon its customer-centric focus, drive continued organic growth into new and existing market segments, and pursue acquisition opportunities.
“We have a very strong position and an established reputation in the market. Data Innovations will continue to invest in product development to both enhance our current product suite and deliver the innovative solutions that are required to compete in the 21st century economy.”
Established in 1989, Data Innovations currently has over 6,500 systems in more than 65 countries around the world. The company’ssolutions – Instrument Manager, Laboratory Manager and EP Evaluator – are mission critical products for the clinical laboratory.
“Data Innovations is a world-class company with market leading products and a thriving customer base,” said Dave Tabors, General Partner, Battery Ventures. “We look forward to working with Mike and the team to help position Data Innovation’s clients and the company for future success.”
Mike Epplen is an experienced healthcare software executive with more than 17 years of technical, operational and sales experience in a variety of sectors. He joins Data Innovations from Lawson where he served as Vice President, Product Management. Mike arrived at Lawson through its acquisition of Healthvision where he was responsible for sales, marketing and product management.
“I am excited to join the Data Innovations team and I’m pleased to step in to lead the company’s next phase of growth,” said Epplen. “We have a very strong position and an established reputation in the market. Data Innovations will continue to invest in product development to both enhance our current product suite and deliver the innovative solutions that are required to compete in the 21st century economy.”
“Our acquisition of Data Innovations is an endorsement of Battery’s commitment to the healthcare technology sector and represents the firm’s third acquisition in the space in the last three years,” added Chelsea Stoner, Vice President, Battery Ventures. Battery’s recent healthcare IT experience includes Brightree, a SaaS solution for the Durable Medical Equipment (DME) market, and Healthvision, a software provider to hospitals, which was acquired by Lawson Software in January 2010.
In conjunction with the purchase, Battery Ventures’ Dave Tabors and Chelsea Stoner, and new CEO
Mike Epplen join Data Innovation’s Board of Directors. Terms of the transaction were not disclosed.
About Data Innovations
Founded in 1989, Data Innovations (DI) is the world’s largest, most successful clinical and blood laboratory middleware company. With a focus solely on laboratory data management and offices in the United States, Belgium, Brazil, China, France, and the United Kingdom, DI is the only middleware company with a true global scope.
Through our over 40 industry business partnerships and directly with laboratory end users, we have installed over 6,500 middleware systems in 65 countries. Instrument Manager (IM) and Laboratory Production Manager (LPM) represent the most complete offerings in the market for pre-analytical, analytical, and post-analytical sample processing and non analytical tasks such as equipment maintenance. Roughly 1,000 different instruments, automation systems, and information systems are supported.
Equally important as our products are our services, which include comprehensive and proactive support, a variety of training options, and on-site consulting. Labs are continually challenged to decrease turnaround time while handling higher volume and maintaining high data quality despite labor shortages and tightening budgets.
About Battery Ventures
Since 1983, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company’s life, from start-up and expansion financing, to growth equity and buyouts.
Battery has supported many breakthrough companies around the world, including @stake (acquired by Symantec), Airespace (acquired by Cisco), Akamai Technologies, Inc. (NASDAQ: AKAM), Bladelogic (acquired by BMC Software), Cbeyond (NASDAQ: CBEY), Healthvision (acquired by Lawson), LIFFE (acquired by Euronext), Neoteris (acquired by Netscreen), Nova Analytics (acquired by ITT) and Omniture (acquired by Adobe). Its current portfolio includes firms such as Brightree, Consona, ExactTarget, GreenBytes, HighJump Software, Nova Holdings LLC, Opscode, Rogue Wave Software and Vero Software.
Battery has a long history of technology-based private equity transactions and is adept at complex deal structures across a variety of market sectors. From offices in Boston, Silicon Valley and Israel, Battery manages nearly $4 billion in committed capital, including its current fund of $750M. For more information, visit www.battery.com. Follow Battery Ventures on Twitter: @BatteryVentures.