Cascadia Capital, a diversified investment bank serving both private and public growth companies around the globe and in the Pacific Northwest, today announced it advised Emdat, Inc., based in Madison, Wisconsin, in its recent acquisition by Nuance Communications, Inc. (NasdaqGS:NUAN). Details of the Emdat transaction were not disclosed.
Emdat is a leading provider of medical documentation software, allowing healthcare organizations to protect or increase physician productivity, while also meeting “meaningful use” of electronic health records (“EHRs”) as established by the 2009 Health Information Technology for Economic and Clinical Health Act. Emdat’s Software-as-a-Service (SaaS) solution makes EHR adoption easier by mirroring medical documentation workflow and automating the process of converting physician-dictated audio into accurate, fully-formatted digital documents ready for integration with a patient’s EHR. Emdat, founded in 1999, today serves more than 2,500 medical facilities throughout the United States and a network of over 210 documentation service companies around the globe.
The Emdat transaction was Cascadia’s fifth deal closed over the past twelve months in the sector the firm calls “Solutions for Professional Verticals,” which focuses on technology companies serving professionals within the legal, compliance /education, healthcare, and finance, tax & accounting verticals.