HealthEdge Completes Investment in Data Dimensions
TAMPA, FLORIDA – November 5, 2014 – HealthEdge Investment Partners announced today that it has completed an investment in Data Dimensions, its fourth portfolio company in HealthEdge Investment Fund II.
Data Dimensions is a leading provider of healthcare related business process outsourcing and automation services to clients in insurance, financial services, and government sectors. The Company is an innovative leader in the area of information management and business process automation. Data Dimensions provides a complete range of outsourcing and professional services, including mailroom management and converting paper forms (i.e., insurance claims, medical claims, dental claims, loan applications, HR forms, and surveys) and unstructured hardcopy documents (i.e., drawings, diagrams, and X-rays) into electronic documents through various forms of document capture services, digital voice recording services, physical records storage, and electronic retrieval services through a state-of-the-art Tier III data center. Data Dimensions was founded in 1974 and is headquartered in Janesville, Wisconsin.
This investment enhances Data Dimensions’ opportunities to drive continued growth by bringing together its proven track record of innovation, market leadership, and customer focus with HealthEdge’s industry knowledge, experience, and network.
“I am very enthusiastic about partnering with HealthEdge in this next chapter for Data Dimensions. We are very much aligned in our vision and growth strategy,” said Data Dimensions’ President and CEO Jon Boumstein. “I am confident that HealthEdge’s expertise and their knowledge of our sector will add value to our business.”
According to Mark Bush, former majority owner of Data Dimensions’ and the Company’s outgoing Chairman of the Board, “It was important to our ownership group and leadership team that we partner with an investment firm that would uphold the values of our family-owned business and continue the local community support for which Data Dimensions is known. It was equally important that Jon already had a good working relationship with one of HealthEdge’s founding partners, who previously served as CEO of a Data Dimensions customer.”
All current Data Dimensions owners will retain a minority ownership stake in the Company, and Mr. Boumstein’s ownership position is increasing.
HealthEdge Managing Partner Phil Dingle said, “Data Dimensions has built a solid reputation. Jon and his team have furthered the Company’s industry-leading position in a highly competitive market. This is a testament to Data Dimensions’ service offering, the uniqueness of the customizable Collybus platform, and the hard work and leadership of its people. We look forward to a strong partnership and building on the Company’s success from here.”
HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience, and network of relationships of its partners. HealthEdge’s partners have more than 100 years of combined operating experience in healthcare as CEOs and investors. For more information on HealthEdge, visit www.healthedgepartners.com.
About Data Dimensions
Data Dimensions helps clients better manage business processes and workflows by bridging the gap of automation, technology, and physical capabilities. As an innovative leader in the area of information management and business process automation, they provide a complete range of outsourcing and professional services. Data Dimensions’ integrated solutions and services enable their valued clients to reassign resources and focus on functions that are core to their business. For more information on Data Dimensions, visit www.datadimensions.com.
For more information, please contact Phil Dingle at HealthEdge Investment Partners at (813) 490-7100.