MediQuant

MediQuant provides enterprise active data archiving for the healthcare sector, specializing in helping hospital systems manage and retire legacy data systems. The company was established in 1999 by Tony Paparella. Having identified the challenge hospitals face with massive amounts of data in legacy applications after system upgrades or mergers, Paparella founded MediQuant to offer a more cost-effective solution than maintaining expensive, outdated systems.

The company's business model is centered on providing software and services to healthcare organizations, enabling them to decommission old IT applications while ensuring continued access to historical data for compliance, patient care, and billing. MediQuant serves a client base of over 250 individual health systems, which includes more than 1,100 hospitals and physician practices. Revenue is generated by helping these clients avoid millions in maintenance and licensing fees for legacy systems.

MediQuant's core product is DataArk, a HITRUST r2-certified, cloud-based active archiving platform. This platform consolidates clinical, financial, and administrative data from disparate legacy systems into a single, secure repository. A key feature is its 'active' nature, which allows users not only to view historical records but also to perform actions like working down patient accounts directly within the archived environment. DataArk integrates with current EMR systems like Epic and Cerner, providing a unified view of a patient's record by linking legacy data with the live system. This supports interoperability and helps clinicians make more informed decisions by providing a complete patient history at the point of care. The platform is designed to be enterprise-scale, handling large volumes of data while ensuring it remains discrete and usable for analytics and business intelligence.

The company has achieved significant milestones, including several funding rounds to fuel its growth. It received a substantial growth investment from Silversmith Capital Partners in October 2018. More recently, in September 2024, Revelstoke Capital Partners made a significant growth investment, acquiring the company to accelerate its expansion. MediQuant has also grown through acquisitions, including DataEmerge and KBSI, to enhance its data extraction and service capabilities. Keywords: healthcare data archiving, legacy data management, EMR data migration, health information systems, active archiving, DataArk, clinical data management, financial data archiving, legacy system decommissioning, healthcare IT solutions, patient data interoperability, revenue cycle management, data conversion services, enterprise data management, healthcare compliance, data extraction, HITRUST certified, hospital IT infrastructure, physician practice data, application rationalization