Stratus Video LLC, a portfolio company of Kinderhook Industries LLC, said May 23 that it acquired InDemand Interpreting. Financial terms weren’t announced. InDemand, of Seattle, provides video and audio interpreting solutions for limited english proficient, deaf, and hard of hearing patients through medically qualified/certified interpreters.
PRESS RELEASE
Stratus Video Executes Merger Agreement with InDemand Interpreting
May 23, 2019
Clearwater, FL – Stratus Video, LLC (“Stratus” or the “Company”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced today the acquisition of InDemand Interpreting (“InDemand”), a Seattle, WA-based provider of video and audio interpreting solutions for Limited English Proficient, Deaf, and Hard of Hearing patients through medically qualified/certified interpreters. InDemand represents the second strategic add-on acquisition for Stratus and Kinderhook’s 42nd transaction in the healthcare industry.
Founded in 2007, InDemand is a leader in the video-remote-interpreting (“VRI”) market and is well known for the high-touch customer service and experienced medical interpreters it provides to its clients.
The merger will enable the combined business to further its commitment to improving health equity for Limited English Proficient, Deaf, and Hard of Hearing patients by providing access to medically qualified/certified interpreters via the latest in video/audio and geolocation technology. Further, the merger will leverage the combined quality of each organization’s interpreters and technology to enhance capabilities to better serve the expanding language access needs of healthcare providers. With more than 25 million Limited English Proficient patients living in the United States today, effective communication is paramount to assisting providers in delivering the best care possible.
“We are thrilled to be merging with InDemand Interpreting,” said David Fetterolf, President of Stratus Video, “We are confident that bringing these two dedicated teams together will lead to new innovations in healthcare interpreting.”
Stratus and InDemand’s mission is to help patients communicate in all medical settings regardless of primary language spoken, cultural background, or hearing ability. “We are excited to combine our shared passion for providing access to qualified/certified medical interpreters with industry leading service levels and technology suite,” said Mary Kate Salley, Chief Operating Officer of InDemand.
Chris Michalik, Managing Director of Kinderhook, commented, “The combination of Stratus and InDemand creates a clear leader in the VRI market with best-in-class management, technology, and interpreters. We look forward to leveraging the assets of the combined company to better serve new and existing customers across the United States.”
Kirkland & Ellis LLP served as legal counsel to Stratus. Financing for the transaction was provided by Goldman Sachs Specialty Lending Group and Imperial Capital served as the Sole Placement Agent. SVB Leerink LLC served as advisors and Cooley LLP served as legal counsel to InDemand.
About Kinderhook Industries
Kinderhook Industries, LLC is a private investment firm that manages over $3.0 billion of committed capital. We have made in excess of 200 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders.
For more information, please visit: www.kinderhook.com
About Stratus Video
Stratus Video offers technology enabled access to its medically qualified/certified interpreters to improve patient safety and care across the care continuum. A suite of offerings including audio, video and geo-location mobile applications along with inter-operability to telehealth solutions, provides language access when and where it’s needed., Led by a team of dedicated individuals, Stratus Video is committed to enabling Visual Connections and Vital Conversations.
For more information, please visit: www.stratusvideo.com
About InDemand Interpreting
InDemand Interpreting was founded in 2007 with the vision of ensuring that every patient receives the highest quality healthcare, regardless of language, cultural background or hearing ability. By delivering the most experienced medical interpreters and highest quality video technology, InDemand Interpreting provides doctors, nurses and clinicians the language access they need to provide the best possible care.
For more information, please visit: www.indemandinterpreting.com
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