RevolutionEHR Receives Financial Investment from RevOptix, Newly Formed Private Investment Group

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MADISON, Wis.—Earlier this week on Wednesday, Oct. 8, 2014, optometric software provider, RevolutionEHR received a financial investment from RevOptix, a newly formed private investment group headed by executive chairman Gunnar Bjorklund. Formerly managing director of investment firm, Sverica, Bjorklund left that position to become executive chairman of RevOptix.

While the terms of the financial investment were not disclosed, Scott Jens, OD, FAAO, co-founder and chief executive officer, told VMail, “RevOptix made a substantial investment into RevolutionEHR. All RevolutionEHR investors retain ownership, and the executive leadership of the company continues unchanged.” Jens will continue as CEO.

RevolutionEHR, a provider of cloud-based practice management and electronic health record software, will continue to expand its footprint in the U.S. and internationally, according to Jens. He said, “We are delighted to have attracted high quality, long-term capital support for the continued development of new and existing products and services to drive more growth. It is thrilling for the entire RevolutionEHR team to focus on delivering amazing products and cost-effective services to our customer base, while having our vision as a dominant player in the industry fully embraced and funded.”

In addition to being used to provide liquidity for some of RevolutionEHR’s early investors, Jens told VMail that the investment would also be used, “to reinvest in the company to make it stronger, add new software services, more operational services, and more integrations,” such as ordering capabilities integrated into the company’s software products. Among the services to be supported with this investment is RevCycle, a back-office billing and claim-processing system that enables ECPs to outsource these functions.

Recognized as an Inc. 5000 high growth company for the past three years, RevolutionEHR’s continued growth is marked by a 98 percent customer retention rate, significant year over year U.S. sales growth, expansion into the Canadian optometric market, and the addition of revenue cycle management and chart review services, according to the company’s announcement.

The newly formed investment group, RevOptix, has an exclusive focus on delivering products and services to the eyecare industry, according to Jens. “RevOptix named their company to match our ‘Rev’ branding,” Jens told VMail, explaining that the “Rev brand is becoming strong.” In addition to appearing in the company name and its RevCycle product, RevolutionEHR also incorporates the “Rev” branding in its MyRev mobile app and its RevDirect patient information exchange service.

Bjorklund said, “The RevolutionEHR team builds extremely compelling products and services. We are very excited to help them accelerate their growth as they continue to focus on their industry-best customer support and delivering cutting-edge software and services to market."