Iodine Software, an Atlanta, GA-based healthcare AI company, received a strategic growth investment from Advent International.
Advent will acquire a significant stake in Iodine in a transaction that values the business at over $1 billion. Bain Capital Ventures and Silversmith Capital Partners, which invested in the company in 2018, will remain shareholders. The amount of the deal was not disclosed.
This investment provides access to capital for expansion and growth strategies, to invest further in its AI engine, CognitiveML, to power new and additional products in other strategic areas of care delivery for health systems.
Led by William Chan, CEO and co-founder, Iodine Software provides a clinical AI solution for accurate capture of patient documentation. The company’s platforms are used by more than 800 hospitals and more than 80,000 healthcare providers nationwide. Iodine also recently completed the acquisitions of Artifact Health and ChartWise to broaden its market reach, bolster its portfolio, and deliver a comprehensive query transformation solution that solves a critical physician pain point.