Private equity firm Sheridan has acquired ICANotes, its first foray into electronic health record (EHR) software. The deal positions Sheridan to tap a market that has seen rapid digitization as hospitals and clinics push for more efficient documentation. ICANotes, a cloud‑based platform that automates clinical note creation, already serves thousands of providers and offers a strong revenue base. Sheridan plans to expand the product line with add‑on modules and may leverage a partnership with fellow portfolio company SimiTree, which specializes in medical billing and revenue‑cycle management. By combining ICANotes’ clinical documentation capabilities with SimiTree’s billing tools, the firm could create a seamless workflow that reduces administrative burden for clinicians.

The acquisition also signals a broader trend of private‑equity investment in health‑tech, as firms look to capitalize on the growing demand for interoperable, AI‑driven solutions. In the coming months, Sheridan will likely focus on integration efforts and scaling the platform across its network of healthcare providers.