First Islamic Investment Bank and its co-investors havehas acquired a substantial interest in Smart Document Solutions for a total transaction value in excess of $104 million. Smart is a provider of medical records release of information (ROI) services in the United States.
Headquartered in Alpharetta, Georgia, Smart’s has an estimated 16 percent share of the approximately $650 million medical records ROI market. The company is in the business of outsourcing the copying and transmittal of medical records from health care providers to requestors of information.
The cCompany also provides electronic medical records (EMR) services to health care facilities through a subsidiary, Smart Health Services. Smart provides services to over 6,500 hospitals, physician clinics and medical group practices throughout the United States, and completes around 400,000 billable transactions on an annual basis.
Bahrain-based First Islamic Investment Bank E.C. was established in 1997. Today, with a paid-up capital of $112.5 million, and over 80 shareholders, First Islamic’s mission is to offer Shari’ah compliant investment banking solutions to institutional and individual investors internationally.
To date, First Islamic has undertaken direct investment transactions in excess of $970 million in the United States and real estate transactions totaling over one billion dollars. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
