Sheridan Capital Partners Completes Investment in ICANotes, a Purpose-Built Behavioral Health Electronic Health Records Platform

CHICAGO--(BUSINESS WIRE)--Sheridan Capital Partners (“Sheridan”) today announced the completion of its investment in ICANotes (or “the Company”), a Practice Management (“PM”) and Electronic Health Record (“EHR”) software platform purpose-built for the behavioral health market. The investment comes at a time when behavioral health providers are facing rising demand for care alongside expanding documentation and compliance obligations. This has increased the need for EHR platforms designed specifically around mental health workflows. The ICANotes product helps clinicians streamline clinical documentation, strengthen compliance, and simplify practice management. Financial terms of the private transaction were not disclosed.

Founded in 1999 and headquartered in Baltimore, Md., ICANotes delivers a comprehensive, cloud-based EHR platform designed specifically for mental health professionals, including psychiatrists, therapists, counselors, social workers, and nurse practitioners. The Company’s AI-enhanced system supports clinical workflows and integrates advanced features that save time, support regulatory compliance, and enhance patient care. ICANotes serves a broad range of behavioral health organizations across outpatient, inpatient, and residential settings focused on medication management, psychotherapy, substance use disorder treatment, trauma-focused care, couples and family therapy, case management, and psychosocial rehabilitation.

“As we searched for a strategic capital partner who could help us meaningfully scale, it became clear that the Sheridan team was the ideal choice given our strong cultural alignment and their relevant experience building healthcare technology businesses,” said Jamie Morganstern, CEO of ICANotes. “We are excited to partner with Sheridan as we continue to invest in our core PM and EHR solutions, while expanding platform capabilities to drive greater efficiency for our clinician customers.”

“We believe ICANotes is an outstanding business that has earned the trust of a wide variety of behavioral health providers by enabling management of an entire practice with one secure system,” said Jeff Foote, Partner at Sheridan. “We are proud to partner with the ICANotes team to build on that success and we look forward to collaborating with Jamie and his team to expand the platform’s capabilities and reach more providers nationwide.”

Sheridan is a well-established healthcare investor with experience in behavioral health, technology and tech-enabled services businesses including investments in SimiTree, Tarrytown Expocare, National Care Systems, and others.

The transaction was led by Jeff Foote, Sean Dempsey, Matt Collins, and Aman Singla at Sheridan Capital Partners. McDermott Will & Schulte served as legal counsel and Harris Williams served as financial advisor to Sheridan Capital Partners.

About Sheridan Capital Partners
Sheridan Capital Partners is a private equity firm focused exclusively on partnering with businesses across the healthcare landscape, including outsourced services, products and manufacturing, providers, and software and technology. Sheridan’s engaged operational approach brings strategic resources and deep industry expertise with the purpose of accelerating growth, building enduring value, and generating strong results. For more information, visit www.sheridancp.com/

About ICANotes
ICANotes is a purpose-built electronic medical record platform designed exclusively for behavioral health providers. With an intuitive, chart-centric workflow and a robust behavioral health content engine, ICANotes enables clinicians to efficiently document care, support compliance, and confidently bill at appropriate levels of reimbursement. Serving psychiatrists, therapists, addiction treatment providers, and behavioral health organizations nationwide, ICANotes combines configurable point-and-click templates with practice management, billing, and revenue cycle tools to support efficient, scalable care delivery. The business was founded in 1999 in Annapolis, Maryland by brothers Ira and Don Morganstern and is led by the second generation of the Morganstern family today.