Lower mid-market US buyout house Pamlico Capital has agreed to buy emergency medical transport billing management provider Digitech Computer.
Digitech’s software aims to help clients protect compliance, increase collections and gain greater transparency through process improvement and automation.
Pamlico partner Art Roselle said, “We are incredibly excited to partner with founder Mark Schiowitz and the rest of the management team.
“Digitech has built an advanced, EMS-focused RCM platform that delivers best-in-class results for their clients.”
“We look forward to working with the team to increase Digitech’s presence in the EMS industry and continue to innovate on its core offerings.”
Pamlico principal Scott Glass added, “Digitech represents a compelling growth platform, and we believe there are numerous opportunities to build on its historical success.”
Digitech was represented by Robert W Baird & Co and Dentons US, while Pamlico was advised by Alston & Bird.
Pamlico pushed past its target for its fourth flagship fund in 2016 to hit a $910m hard cap close.
The firm took just four months to complete the oversubscribed fundraise, easily beating its initial $750m target in a ‘one and done’ close.
Pamlico, which spun out of Wachovia Corp in 2010, closed its first independent fund on its $650m hard cap in 2013.
Investors in that vehicle included AlpInvest Partners, HarbourVest Partners, Constitution Capital, TIAA-CREF and the GE Pension Trust.
The firm focuses on investments in the business and technology services, communications, and healthcare sectors.