Bowstring Advises ScribeAmerica in its Recapitalization with Chicago Growth Partners
October 24, 2014 | Atlanta, GA
Bowstring Advisors (“Bowstring”) served as the exclusive financial advisor to ScribeAmerica, LLC (“ScribeAmerica”), in its recapitalization with Chicago Growth Partners.
ScribeAmerica is the nation’s largest and most frequently used medical scribe company, with more than 4,500 employees providing services for over 535 medical facilities in 44 states. Founded in 2004, the Company transformed the concept of medical scribes from a sparsely used resource into a national industry. ScribeAmerica initially focused solely on providing scribe services in emergency departments, but has since expanded to service outpatient, inpatient, and urgent care facilities. The Company’s managed medical scribe programs significantly increase physician productivity, improve clinical quality, and reduce the administrative burden on physicians, providing clear ROI for medical facilities.
Dr. Michael Murphy, co-founder and CEO of ScribeAmerica, said, “We are thrilled about our new partnership with Chicago Growth Partners – it is an exciting step in helping ScribeAmerica continue to grow and improve upon the delivery of medical scribe programs. The investment experience and operational expertise of the CGP principals in healthcare services will be invaluable as we continue to grow our service offerings and geographic footprint.”
Murphy further noted, “We are very thankful for the Bowstring team and their counsel, dedication, and assistance in finding the right partner for ScribeAmerica.”
Cooper Mills, Managing Director at Bowstring Advisors, said, “ScribeAmerica is an excellent story and has transformed the way many hospitals and healthcare facilities are managed. We were delighted to work with a premier management team with the unique vision to build the clear industry leader in managed medical scribe programs. The management’s enthusiasm, combined with our sector focus, led to the identification of the right partner for ScribeAmerica. ScribeAmerica’s management and CGP share the same vision for the Company’s continued high growth and dedication to driving efficiencies for healthcare providers across the nation.”
ScribeAmerica’s recapitalization by CGP was effective July 28, 2014. Terms of the transaction were not disclosed.
We are very thankful for the Bowstring team and their counsel, dedication, and assistance in finding the right partner for ScribeAmerica.
Dr. Michael Murphy
Co-Founder and CEO