Culbro, LLC Invests in Outsourced Medical Transcription Services Organization

Culbro, LLC., a U.S. based, family controlled private equity firm, announced today its investment in OSi LLC, a mid-sized medical transcription service organization ("MTSO"), headquartered in Jupiter, Florida. During its six year history, OSi has grown to become one of the top ten MTSOs in the US with 2007 sales of approximately $18 million. OSi clients include a number of prestigious acute care hospitals and clinics, including, among others, the Mayo Clinic, IASIS Healthcare, Ochsner Health System and the Mount Kisco Medical Group.

OSi was founded in 2001 by Andy Renfroe, Rowland Milam, Teresa Shadrix, and Peggy Doyle, all of whom are veterans of the medical transcription industry. The founders will continue in their present executive roles with Culbro representatives joining in a board capacity.

"As we got to know the OSi team," said Edgar Cullman, Sr., managing member of Culbro, "we saw the tremendous value they bring to their customers and we became enthusiastic to provide the capital and strategic advice to help them grow. We are also delighted to be working with a management team that brings integrity to everything they do."

Culbro, LLC is presently managed by members of three generations of the Cullman family and its partners have over 100 years of combined experience. Culbro provides advice and growth capital to its partner companies and invests in both the US and India. Culbro has previously invested in Goodlife Integrated Fitness Solutions, an India-based healthy prepared food delivery company doing business as Calorie Care. Culbro Corporation, which was managed by the Culbro members, had interests in a range of consumer and industrial companies. See http://www.culbro.com/.

Culbro's investment in OSi will result in what the managing partners foresee as a strong future for OSi. According to Andy Renfroe, CEO and managing partner of OSi, "Although Culbro will not be involved in our daily operations, having Culbro on our team will open the doors to new opportunities that would have otherwise not been available to us. It's definitely an exciting time for OSi and our entire team."

Teresa Shadrix, COO and managing partner of OSi added, "We are thrilled about Culbro's investment in OSi. Organic growth will continue to be our primary focus, but our partnership with Culbro allows for new strategic acquisitions and tremendous growth."

Website: http://www.culbro.com/

Source: PRNewswire