PLANO, TX (MMD Newswire) October 26, 2009 -- Petra Capital Partners today announced a $6 million investment in Plano, Texas based, Superior Global Solutions, Inc. Superior Global is a nationwide supplier of technology and outsourced services for the medical documentation and coding industries. Their sophisticated technology streamlines the transcription and coding processes and identifies clinically relevant information from medical records, allowing their clients to reduce costs and better manage revenue cycles. Superior Global's people and technology work closely together to deliver the highest-quality healthcare documentation, coding and document analysis solutions possible. The Company's array of services include everything needed to securely receive, create, analyze, and distribute structured electronic documentation in a manner required by today's forward looking healthcare systems.
"With healthcare in a state of flux today, IDN's, hospitals and clinics are looking for a company that can provide technology solutions and services that will assist them with their revenue cycle management. As personal health information becomes more accessible to patients, healthcare organizations want to partner with a company that understands the importance and of the integrity of the information being processed. Our partnership with Petra Capital gives us the current and future financial resources to meet the industry's increasing demand through the acquisition, development and integration of new and emerging technologies. In addition, it will help fund the explosive organic growth of our outsourced services offerings" stated Greg Hackney, CEO of Superior.
David Fitzgerald, Petra Capital Partner, commented, "Hospitals and health systems are searching for technology enabled solutions that lower costs, improve workflows and accelerate the revenue cycle. Superior Global addresses these issues by providing its clients with a bundled solution, comprised of professional services and innovative technology. We are pleased to have the opportunity to partner with such an outstanding management team and look forward to helping Superior Global achieve its growth plans."
About Superior Global Solutions
Superior Global Solutions, Inc. is a market leader in healthcare outsourcing with over 500 employees in the US and additional offices in India with over 800 employees. Superior Global, providing clinical information from the point of care across the enterprise. Learn more at www.superiorglobal.com.
About Petra Capital Partners
Petra Capital Partners, LLC is a private equity firm based in Nashville, Tennessee. The firm is actively investing its second SBIC fund, Petra Growth Fund II, which has $160 million of available capital to invest. Its previous funds under management total $130 million. Petra provides non-control subordinated debt and/or preferred stock to high growth companies for expansion, acquisition, buyout, refinancing or recapitalization in partnership with the founding management team. The fund targets business, healthcare and information technology services companies. For more information, please visit Petra's website at www.petracapital.com.
Contact:
Superior Global Solutions, Inc.
Steve Dunkle
972-526-1917
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