$38.3 Million Investment Fuels Continued Growth for Nordic Consulting

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Madison-Based Firm Expanding Services, Staff, Clients and Partnerships

Nordic Consulting

The resources and networks developed through this investment have truly accelerated the realization of Nordic’s vision for improved patient care and better outcomes in the healthcare industry.

On the heels of a $38.3 million investment partnership, Nordic Consulting has furthered its leadership in the Epic electronic medical records (EMR) services industry. The initial investment came via SV Life Sciences, Health Enterprise Partners, and HLM Venture Partners in September 2012, and in April of this year, Kaiser Permanente Ventures, the corporate venture capital arm of Kaiser Permanente, participated in a $5 million follow-on investment in Nordic. The capital has allowed Nordic to increase its service offerings, bolster its staff and grow its clients and partnerships.

“The resources and networks developed through this investment have truly accelerated the realization of Nordic’s vision for improved patient care and better outcomes in the healthcare industry,” said Mark Bakken, CEO. “By supplying first-class consultants equipped with the most robust resources in the industry, we’re helping clients drive additional value out of the EMR.”

Expanded Services.
The influx of capital has allowed Nordic to introduce a trailblazing collection of packaged solutions that will enable organizations to succeed in a rapidly changing marketplace in a more cost-effective way. These post-live solutions for optimization, upgrades, analytics, and ongoing support have already helped multiple Nordic clients realize additional value and ROI in their Epic EMR. The recently launched Remote Solutions offering enables organizations across the country direct access to Nordic’s wealth of talent and makes it possible for clients to focus their staff on more strategic initiatives like new applications and optimization. Lastly, an innovative Connect (f.k.a. Community Connect) offering will help organizations extend their Epic EMR to affiliate physicians and hospitals, enabling interoperability and better continuity of patient care.

In addition, Nordic was one of only four firms in the country to earn the distinction of being named Community Connect Credentialed by Epic earlier this year; this significant achievement is based on a number of factors including successful implementations, adherence to timeline and cost, client satisfaction and community practice happiness.

“Every day, we’re expanding and building upon our intellectual capital,” added Bakken. “We’re working hard to package and deliver our solutions in the ideal manner for our clients — creating powerful ways for their organizations to tap into our consultants’ extensive years of experience with clients across the country.” In total, Nordic’s consultants have worked with 80% of Epic’s clients across the country.

Expanded Staff and Clients.
The new funds have propelled Nordic to refine processes, hire more expert consultants and build a dynamic management team that is keen to handle rapid growth. Nordic now stands at over 300 consultants strong and has never been more dedicated to delivering the best Epic EMR consulting services. Additionally, Glenn Cole, a seasoned finance executive formerly of Nighthawk Radiology Services, was named Nordic’s Chief Financial Officer in May. Cole has significant operational experience in high-growth technology organizations and will play a key role in developing strategy and overseeing finance, accounting and treasury operations to support Nordic’s growth.

“This investment has enabled us to grow both practically and tactically, which is critical because we want to position Nordic to be a long-term leader in this industry,” said Drew Madden, President. “Long after we’ve helped with implementation, we’ll help with optimization, decision support, business intelligence and whatever else it takes to ensure our clients are successful.”

The network obtained as a result of the investment has also led to new introductions, which have in turn fostered new client relationships, including those with Kaiser Permanente of Oakland, Calif.; Sentara of Norfolk, Va.; Partners HealthCare in Boston, Mass.; Lahey Hospital & Medical Center in Boston, Mass.; and Cedars Sinai of Los Angeles, Calif.

Dedicated to hiring and serving the best in the industry, Nordic’s culture advocates bright ideas, company unity and growth for all. And because the organization believes that success should be shared, Nordic has also recently introduced a stock option plan for each of its team members across the country.

“We hire the best consultants in the industry and encourage them to think outside of the box,” added Madden.

“This investment has helped us hire more innovative thinkers, both in the field and in our home office alike, and equip them with better solutions and resources. This is important for one simple reason: It helps us create happier, more empowered, more successful clients.”

About Nordic Consulting

Dedicated to the very highest standards of project completion, Nordic is a leader in the Epic electronic medical records (EMR) services industry. And we have the numbers to back it up, with more than 75 clients in 35 states, over 300 consultants who average nine years of Epic experience, and a No. 1 ranking in Epic Staffing and Implementation in the June 2012 KLAS report, Navigating the Sea of Epic Consulting.

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Natalee Cruse
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