May 23, 2019, 07:00 ET
CLEARWATER, Fla., May 23, 2019 /PRNewswire/ -- InDemand Interpreting ("InDemand"), a portfolio company of Health Enterprise Partners ("HEP"), announced today its acquisition by Stratus Video, LLC ("Stratus" or "the Company"), a portfolio company of Kinderhook, LLC ("Kinderhook").
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.
Ezra Mehlman, Managing Partner of HEP, said, "Language and health literacy are key social determinants of health, and the costs of providing non-culturally competent care are well-documented. The combination of Stratus and InDemand forms an industry powerhouse which will help break down the disparities that limited English proficient patients face across the country."
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 Health Enterprise Partners
Health Enterprise Partners invests primarily in privately held, lower middle market companies in healthcare services and healthcare information technology. Central to HEP's strategy is its unique and extensive hospital system and health plan network, 36 members of which are investors in HEP's funds. HEP seeks to invest in companies that improve the quality of the patient experience, expand access, and reduce the cost of healthcare.
For more information, please visit http://www.hepfund.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 geolocation 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
SOURCE Health Enterprise Partners
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