Wednesday May 9, 2018 - Media, PA
Record Reproduction Services (RRS), a leading provider of Release of Information (ROI) services announced today that Claremont Square Capital Partners, LLC (Claremont Square), an investment firm focused on mid-market technology-enabled service companies, has completed a majority acquisition of RRS.
As part of the acquisition, Zachary Perry is assuming the role of Chief Executive Officer of RRS. Jon Leonhardt, formerly RRS’s CEO and Founder, will continue to work with the Company and serve on the Board of Directors. All business operations will remain the same.
“Since 1994, RRS has been a pioneer in the field of ROI,” said Zachary Perry. “With increasing regulatory complexity and growing demand for secure data management, we felt the timing was right for RRS to take its growth to the next level. We will be making additional investments to enhance the RRS technology platforms and expand our support services to meet the growing needs of our customers.”
Additionally, RRS is now operating with the expertise provided by a newly formed Board of Directors, which brings decades of operational experience in the healthcare and software technology space.
"We brought together a group of experienced private equity investors to finance Zachary Perry and RRS to accelerate the Company's healthcare record technologies and services. We believe this market will respond to a well-funded and professionally managed leader. We were impressed by RRS’s record of exceptional customer service and want to help take the Company to the next level,” said Craig Jones, head of private equity firm TPE Boulder, a specialist in software and healthcare investments.
The secure, reliable and efficient management of ROI services remains an important challenge for healthcare providers across the country. Given the increasing complexity of regulations that impact the movement of protected health information (PHI) and renewed focus on the security of data, this challenge is more apparent than ever.
“I look forward to a continued successful future for RRS,” said Jon Leonhardt. “The expertise and resources available to RRS through the acquisition should accelerate our growth in the ROI industry.”
About Record Reproduction Services
RRS is a suburban Philadelphia based company founded in 1994 to provide outsourced Release of Information services to hospitals and medical groups. The company securely manages requests for medical records on behalf of their customers from third parties who have requested those records. Over the past 23 years, RRS has grown from a locally focused operation to an established, nationwide ROI provider. Today, the Company services more than 200 medical practices and networks across twenty-one states.
About Claremont Square Capital Partners
Claremont Square Capital Partners is an investment firm focused on technology-enabled services businesses. The firm has a long-term approach to investing and creates value through active management. Claremont Square provides companies with the following advantages: access to capital, experienced operators and long-term value creation. Find out more at www.claremontsquarecp.com.