CHICAGO – Edgewater Growth Capital Partners II has announced the recent sale of portfolio company Extended Care Information Network (ECIN) to Allscripts Healthcare Solutions.
Through Edgewater’s investment in May 2006, Edgewater partnered with the ECIN management team to accelerate organic growth opportunities, strengthen its client network base and assist the company with targeted acquisitions.
Since that time, ECIN has aggressively expanded its customer base, enhanced its product service offering and increased its revenue by 90 percent while tripling EBITDA.
ECIN is another example of Edgewater’s investment strategy. The investment opportunity was introduced to Edgewater through a personal relationship between ECIN’s CEO and one of Edgewater’s partners. This has enabled Edgewater to complete the investment without an auction process.
The company successfully took advantage of its leadership position within its marketplace and positioned itself for an attractive exit to a strategic acquirer. Edgewater also has a close relationship with the CEO of the acquirer, which allowed Edgewater to play a significant role in the successful sale of ECIN.