Advent International has made a strategic growth investment in Iodine Software, according to a news release.
Iodine, based in Austin, Texas, is the developer of a clinical AI solution designed to support the accurate capture of patient documentation. The company states its platforms are used by more than 800 hospitals and more than 80,000 healthcare providers nationwide.
Advent International, with U.S. offices in Boston and New York, is a global private equity firm founded in 1984 that focuses on investments in five core sectors, including healthcare.
Bain Capital Ventures and Silversmith Capital Partners, which invested in Iodine in 2018, will remain shareholders.
Terms of the investment were not disclosed.