BRENTWOOD, Tenn.--(BUSINESS WIRE)--The Rehab Documentation Company, Inc. (ReDoc), a leading provider of documentation software for physical, occupational and speech rehabilitation industries, recently closed a $1.1 million capital raise led by Council Capital’s TNIvestco arm, the Council & Enhanced Tennessee Fund.
“The Rehab Documentation Company’s suite of products fill a key niche in health records for documentation in physical and occupational therapy and speech-language pathology. The management team at ReDoc is a great combination of technical and healthcare professionals, which enables ReDoc to really identify and serve the needs of its hospital and private practice customer base,” said Katie Gambill, Managing Partner of Council Capital. “We are pleased ReDoc chose to partner with Council & Enhanced to help further the company's growth plans.”
The capital raise efforts are aimed toward product development and enhancement, and overall team expansion. More than 1,200 healthcare providers, representing more than 10,000 therapists, are currently licensed to use ReDoc software. ReDoc is poised for continued growth in the rehabilitation documentation industry.
“I am pleased that Council Capital saw the same things I did in ReDoc when I joined ReDoc’s board,” said Gene Fleming, Executive Chairman of The Rehab Documentation Company. “Helping to pair a great management team and a terrific investment partner is exciting for me.”
“Talk about being fortunate; I now have the chance to work with a deeply experienced investment partner in Council Capital along with the company’s impressive list of CEO advisors,” said Bill Southwick, President & CEO of The Rehab Documentation Company. “Any CEO works hard to have their company in the right position to execute on its plans, and it is great to be in that position with ReDoc.”
The capital raise was officially completed December 18, 2012.
Council Capital is a private equity firm with approximately $150 million of capital under management. The firms invests primarily in early-growth and growth stage companies in healthcare services and healthcare IT that emphasize innovative ways to raise quality and lower the cost of healthcare. For more information about Council Capital and the Council & Enhanced Tennessee Fund, please visit www.councilcapital.com and www.cetnfund.com.
Founded in 1995, Brentwood, Tenn.-based The Rehab Documentation Company, Inc. (ReDoc), is a therapist-owned and operated leading provider of documentation software for physical, occupational, and speech rehabilitation industries. ReDoc’s products and applications are designed to address the clinical documentation and business needs of therapists throughout the continuum of care. All solutions maintain current industry standards with Microsoft and HL-7 organizations, and can interface with multiple office systems, enabling efficiencies in workflow processes of treating and managing patient documentation. For more information about ReDoc, please visit www.rehabdocumentation.com.