ImageTrend Announces Strategic Growth Investment from Welsh, Carson, Anderson & Stowe

PRESS RELEASE

LAKEVILLE, MN—ImageTrend Inc., a growing, market-leading software solutions and services provider in the public safety and health care communities, announced February 9, 2023, an equity investment from Welsh, Carson, Anderson & Stowe (WCAS), a leading technology and healthcare-focused private equity firm. WCAS’s investment seeks to help accelerate growth, further product innovation, and maintain the best-in-class software and customer service that ImageTrend is known for. The company intends to utilize the investment to create new solutions that will benefit the industries and clients ImageTrend serves.

Dedicated to the mission of connecting life’s most important data, ImageTrend delivers software solutions, data analytics, and services to EMS, hospital, fire, mobile integrated healthcare/community paramedicine (MIH/CP), critical care, licensing, billing/revenue cycle management, and emergency preparedness personnel. ImageTrend’s suite of solutions facilitate a fully connected, patient-centric health care and public safety continuum.

With 25 years of experience in developing enterprise software, ImageTrend's commitment to their clients, innovation, and world-class service has enabled the company to deliver its solutions at the federal, state, regional, city, and organizational level, both in the private and public sector. The company serves 40+ states and nearly 3,000 customers in the U.S. and internationally. Collaborating with WCAS, a firm with deep domain expertise in enterprise software and health care, aims to create strong alignment for continued organic growth and expansion to best serve these customers.

“We are excited to partner with WCAS to collectively bring our connected vision to health care and public safety,” said Joe Graw, ImageTrend's president and CEO. "It’s an honor to lead innovation that directly benefits the safety of our communities and the overall health of the population.”

“WCAS is excited about our investment in ImageTrend, a market leader in the public safety space. We are impressed with the company’s suite of mission-critical software solutions, its deep customer relationships, and the breadth of industry experience from leadership. We are thrilled to support Joe and the existing management team’s vision of building and delivering world-class software and analytics solutions into the public safety and health care end markets,” said WCAS General Partner Ryan Harper.

WCAS General Partner Ed Sobol added, “ImageTrend sits at the intersection of the technology and health care industries, the two industries in which WCAS focuses on building durable, innovative, and market-leading companies. Given the increasing importance surrounding prehospital data access in improving patient outcomes across the health care continuum, we look forward to partnering with ImageTrend to continue the advancement of their vision to connect life’s most important data.”

Concurrent with WCAS’s investment into ImageTrend, Ryan Harper, Ed Sobol, Sanjay Palakshappa, and Betty Vo will join the board of directors alongside ImageTrend Founder Mike McBrady and CEO Joe Graw.

Baird acted as the financial advisor to ImageTrend. Kirkland & Ellis served as legal counsel and Shea & Co. served as financial advisor to WCAS.

Visit www.imagetrend.com.