Pittsburgh, PA. – (June 2006) – MED3OOO Group, Inc., a privately held national healthcare management and technology company, has completed a transaction, which will merge iLIANT Corporation into MED3OOO. iLIANT Corporation is a leading provider of software, business outsourcing, and consulting services for physician practices and emergency medical services providers. The combined company will comprise over $75 million in revenue, with over 850 employees serving the collective client base across the United States.
This arrangement is another significant step in MED3OOO.s effort to expand its position as an industry leader in providing advanced resources to the healthcare market, each resource focused on improving the efficiency and quality of healthcare delivery. Headquartered in Tampa, Florida, iLIANT provides services for over 2,000 physician clients representing over 30 specialties throughout the United States. This merger will enhance MED3OOO.s role in the marketplace, serving over 7,000 physicians nationwide.
"Our partnership with iLIANT continues our strategy of focused growth and providing people, products, and services that support and differentiate our clients," said Patrick Hampson, MED3OOO.s Chairman and Chief Executive Officer. "From our Board leadership to our senior executives and staff, we are a company with unparalleled breadth of industry knowledge. While we continue to focus on our core technology and service offerings, we also are expanding our leadership position in providing clinical information to our clients, enhancing their ability to improve the health of the patients and populations they serve. The acquisition of iLIANT increases our scale but, more importantly, the iLIANT team shares our desire to help healthcare providers for the ultimate benefit of their patients."
Ricardo Salas, iLIANT Chairman, commented, "iLIANT and MED3OOO both have strong track records of customer-focused products and services. Both companies have grown and succeeded because we understand physician practices and the challenges they and other healthcare providers face - and then deliver innovative, value-added solutions that not only help improve their operations, but also improve their ability to deliver patient care. We are excited about the opportunity going forward with MED3OOO because both companies truly embrace a culture of physician empowerment."
Pat Hampson also noted, "I am also most excited about our Board leadership. We are unique in that we have two great leaders from the Healthcare IT sector, John McConnell, founder of both Medic Computer Systems (now Misys Healthcare) and A4 Health Systems (now Allscripts), and Rick Salas, one of the founders of Medical Manager Corporation and iLIANT. We also have great physician leadership with Paul McLeod M.D., Chief Medical Executive with MED3OOO, along with participation from F. Lane France M.D. also a founder of iLIANT. Our financial leadership includes W. Scott Miller, co-founder and managing partner of Lovett Miller, and David Dillon, Chief Financial Officer of MED3OOO. All of these gentlemen have a history and reputation of building great companies for the clients, shareholders and employees."
About Lovett Miller & Co.
Lovett Miller & Co., co-headquartered in Jacksonville and Tampa, Florida, provides growth capital and shareholder liquidity for rapidly growing, privately held companies throughout the United States with a particular emphasis on technology-enhanced service companies and healthcare firms. The Firm invests in a range of financings including (1) growth capital, (2) minority shareholder liquidity transactions, and (3) growth buyouts. Lovett Miller & Co. typically invests $5 to $15 million in equity per company, although it is willing to consider both smaller and larger equity investments. For more information, visit