January 26, 2016
New York, NY – Stratus Video (“Stratus” or the “Company”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced today the acquisition of Optimal Phone Interpreters (“Optimal”), a provider of over-the-phone interpreting (OPI) solutions. Optimal represents the first add-on acquisition for Stratus and Kinderhook’s 22nd transaction in the healthcare sector. Financial terms of the transaction were not disclosed.
Based in Clearwater, FL, Stratus provides video remote interpretation services to the healthcare, legal and enterprise markets – providing Limited English Proficiency individuals the ability to communicate in these settings with the assistance of interpreters via video conference on-demand.
Headquarters in Winter Park, FL, Optimal provides OPI and document translation services to the healthcare, legal and enterprise markets – connecting clients with interpreters in over 200 spoken language on-demand 24/7.
The acquisition allows Stratus to deliver a one-stop service for interpreting needs as it provides Stratus the capability to support both video and OPI while maintaining a standard of excellence.
The acquisition doubles Stratus Video’s interpreter base, adding 1,000 interpreters fluent in over 200 languages, and solidifies Stratus and Optimal’s strategic partnership; which has enabled clients to receive both video remote interpreting (VRI) and OPI services through Stratus’ proprietary software platform for the past three years.
“This acquisition gives us a unique opportunity to become a truly one-stop-shop service provider, capable of satisfying the healthcare industry’s ever increasing need for interpreting services,” said David Fetterolf, President of Stratus Video. “By partnering with Optimal, Stratus Video is able to provide a wider and more diverse language base with a single point of contact for rapid response, ultimately improving the experience for both our clients and their patients.”
“Stratus Video now offers a truly comprehensive interpreting service. The combination of Stratus’s expertise in VRI with Optimal’s experience in OPI will provide healthcare professionals with the tools they need to break through the language barrier on demand. By combining our service offerings, we will both be better positioned to serve customers with premier interpretive services quickly and efficiently,” said Greg Engelman, President of Optimal Phone Interpreters.
“David and his management team have built Stratus into a nationally recognized provider of video interpretation services,” said Chris Michalik, Managing Director at Kinderhook. “The acquisition of Optimal enables Stratus to provide best-in-class OPI and VRI services and Stratus is now positioned to fully satisfy organizations’ need for interpretative services. Kinderhook looks forward to continuing to support Stratus’ strategic growth initiatives to provide best-in-class service and innovative interpreting solutions to the healthcare, legal and enterprise markets.”
Kirkland & Ellis LLP served as legal counsel to Stratus.