Giving founders a lucrative and graceful retirement
Data Innovations was a 20 year old, 100-person Healthcare IT company, tucked away in Burlington, Vermont. With a high quality product set, very strong partners, and a satisfied customer base, its founders were looking to transition out and retire.
Battery was bullish on the healthcare integration market and the opportunity for both organic growth and tuck-in acquisitions in the broad device integration/middleware space. Data will continue to grow, and so will the need for these technologies across the hospital, physician practice and lab segments.
Teamed up with Mike Epplen, the #2 at former portfolio company Healthvision, to evaluate the company and the market opportunity, and to come in as CEO of the go-forward business
Battery made an all-cash offer, a commitment to close quickly, and presented a compelling strategic plan for growing the company with Epplen at the helm.
Quick changes make a big difference
With such a strong platform, a big impact was made with some quick and simple changes to the marketing message, the structure of the sales team, and the back office finance function.
In the first 2 years of Battery’s ownership, both profitability and revenues were up dramatically.
Data Innovations is well positioned to grow into a large, longstanding, sustainable organization around healthcare integration, a large market opportunity and strategic pain point for healthcare organizations worldwide.