Kinderhook to Sell Stratus Video to AMN Healthcare
CEO Insights team, Monday 2 February, 2020, 0
Stratus Video, based in Clearwater, Florida, is the leading provider of video remote language interpretation services for the healthcare industry. It has witnessed a rapid growth since its inception in 2012, relishing over $100 million revenue in 2019. Affirming its presence in the healthcare industry as a leading innovator, Stratus Video succors over 1,600 clients among health systems, acute care hospitals, community health centers, federally qualified health centers, ambulatory surgery centers, and post-acute & home health providers. Stratus Video has developed cutting-edge exclusive technologies to consistently render video remote interpretation, over-the-phone interpretation and in-person interpretation, and thus increases efficiency and improves the patient and clinician experience.
“This is a great outcome for Kinderhook, Stratus and its employees. We are very proud of the accomplishments of Stratus’ team, led by David Fetterolf and Maureen
Stratus Video succors over 1,600 clients among health systems, acute care hospitals, community health centers, federally qualified health centers, ambulatory surgery centers, and post-acute & home health providers
Huber, and we expect the Company to continue to flourish as part of AMN Healthcare. Our investment in Stratus highlights the key tenets of Kinderhook’s investment strategy – partnering with world class management teams to aggressively grow businesses in niche markets both organically and through acquisition,” says Chris Michalik, Managing Director, Kinderhook.
Commenting on Stratus Video, Susan R. Salka, AMN Healthcare Chief Executive Officer, says, “We are very excited to have the talented team at Stratus Video soon join the AMN family and expand our workforce solutions strategy with the addition of the nation’s leading remote video interpreting company in healthcare.” Additionally, mentions, “This acquisition is the result of our continued efforts to positively impact patient care through innovative workforce solutions. We believe Stratus will add great value to the AMN portfolio of services to clients and their patients and will provide further opportunity for us to expand in the virtual workforce and patient care arena.”
For this transaction, Kirkland & Ellis acted as a legal counsel, and Evercore as an exclusive financial advisor to Stratus Video, while J.P. Morgan served as an exclusive financial advisor to AMN and Sheppard Mullin as the legal counsel.