LOS ANGELES--(BUSINESS WIRE)--Language Access Network (LAN), a pioneer provider of telehealth language interpretation services to the healthcare industry, today announced a partnership with Los Angeles-based Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors, L.P., a $28.5 billion alternative investment firm.
Headquartered in Columbus, OH, LAN is the national leader in video medical interpreting (VMI) for the healthcare industry. The company, along with its partner company Carenection, provides immediate, reliable, secure, compliant, on-demand video interpreting for the Limited English Proficient (LEP) and Deaf and Hard of Hearing patient populations, 24 hours a day, 7 days a week in more than 210 languages.
“We ran a very thorough process to select a financial partner who could bring strategic as well as financial capital to the table,” said Jamey Edwards, LAN and Carenection’s CEO. “Kayne Partners took the time to understand our goals, how they could help us achieve them and stood ready to support us as healthcare entrepreneurs delivering an innovative service to leading hospitals nationwide.”
“Kayne Partners aims to identify and partner with companies uniquely positioned in high growth industries and backed by strong management teams. LAN’s telehealth VMI solution helps increase efficiencies in the hospital setting, resulting in higher quality of care to patients and significant cost savings to hospitals,” said Leon Chen, Vice President, Kayne Partners. “The LAN team has built a market-leading organization supported by highly skilled language interpreters and best-of-breed technology. Our partnership will help support LAN's continued expansion and also allow LAN to continue to improve upon its highly differentiated suite of offerings for its customers.”
About Language Access Network, LLC
Language Access Network, LLC (LAN) is the leader in trusted healthcare
communications. LAN provides Video Medical Interpretation (VMI) and
Audio-Only services to more than 500 hospitals and other medical venues
nationwide. As a physician-owned company, solely focused on healthcare,
LAN has unique insight into driving better outcomes, improving patient
satisfaction and being a true partner to client hospitals. Targeted
toward Limited English Proficient and Deaf and Hard-of-Hearing patients,
LAN provides its rapidly growing client base with 24/7/365 access to the
highest quality, medically trained interpreters available via its
centralized video language centers.
www.lan.us
About Carenection, LLC
Carenection is a telehealth solutions partner that delivers
best-in-breed technology, network infrastructure and consulting services
to create a seamless and transparent encounter for the patient and
provider over a unified telemedicine platform. Carenection believes that
hospitals shouldn’t need multiple platforms to support multiple
telemedicine platforms, just one: the Carenection Telehealth Delivery
Network™ (CTDN). Carenection is the most widely utilized telehealth
market network in the country, delivering over 50,000 encounters per
month via over 3,000 video endpoints to over 500 hospitals nationwide.
www.carenection.com
About Kayne Partners
Kayne Partners is a leading provider of capital and connections to
rapidly growing companies in North America. Since its inception more
than a decade ago, it has invested over $600 million in platform
investments and add-on acquisitions. Kayne Partners seeks to partner
with driven entrepreneurs as a non-control minority investor and provide
transformative capital to these high growth companies. Kayne Partners is
the growth private equity group of Kayne Anderson Capital Advisors, L.P.
www.kaynepartners.com
About Kayne Anderson Capital Advisors, L.P.
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading
independent alternative investment management firm focused on niche
investing in upstream oil and gas companies, energy infrastructure,
specialized real estate, middle market credit, growth private equity and
distressed municipal opportunities. Kayne’s investment philosophy is to
pursue niches, with an emphasis on cash flow, where our knowledge and
sourcing advantages enable us to deliver above-average, risk-adjusted
investment returns. Kayne manages approximately $28.5 billion in assets
(as of 5/31/2015) for institutional investors, family offices, high net
worth and retail clients and employs nearly 300 professionals in eight
offices across the United States.
www.kaynecapital.com
For more information on this transaction, please contact Nathan Locke at (310) 282-2800 or nlocke@kaynecapital.com.
