Morgan Records Management

What Morgan Records Management does

Morgan Records Management LLC is a privately held medical records custodian headquartered in Merrimack, New Hampshire, that specializes in taking custody of patient records when medical practices close or physicians retire. Founded in 1997 and re-established as an independent entity in 2009, the company provides end-to-end custodianship services including secure transport of records, EMR extraction and conversion, HIPAA-compliant storage of paper, x-ray, and pathology materials, patient notification, and release-of-information fulfillment for the full statutory retention period, after which it performs secure destruction. It reports serving over 1,600 practices, safeguarding 15+ million patient records, processing 2,300+ record requests per month, and maintaining a zero HIPAA/OCR violation record across all 50 states.

The company's technology stack centers on a 24/7 online records management portal protected by 256-bit military-grade encryption, supported by physical facilities with controlled access, video surveillance, fire suppression, and environmental controls. Its data team demonstrates interoperability expertise across 75+ EMR systems and 50+ medical practice specialties. Distribution combines a direct sales team handling enterprise and practice-closure engagements with self-service digital portals for patient and third-party (legal/insurance) record requests.

Morgan Records Management generates revenue through two primary streams: a one-time custodianship setup fee covering the retention period with no recurring charges for closing practices, and transaction-based per-request fees (calculated under the HIPAA average-cost method) for processing medical records requests from patients, legal firms, and insurance companies. In 2023, the company added ROI outsourcing for active practices as a managed-service revenue line. The company is owned and led by CEO Dan Fawcett, with Jason DeLuca serving as business manager. North Haven Capital invested in the company in February 2023 alongside Eastern Bank as a financing partner.

Name

Morgan Records Management

Legal name

Morgan Records Management LLC

Website

https://morganrecordsmanagement.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Short description

Morgan Records Management LLC is a nationwide HIPAA-compliant medical records custodian that takes over patient records for closing or retiring medical practices and hospitals, serving 1,600+ healthcare providers across all 50 U.S. states.

Ownership category

akta.pro rank

Product category

Medical Records Management Services

NAICS

Libraries and Archives (519210), Document Preparation Services (56141)

SIC

Services-Health Services (8000)

akta.pro primary industry

Healthcare & Medical Records Storage (Hospitals, Clinics) (TLALALAD)

akta.pro secondary industries

Records Management, Retention & eDiscovery (Data Retention Governance) (HDAEADAL), Corporate Records Storage (Commercial/Enterprise) (TLALALAA)

Keywords

• Medical records custody
• Records storage management
• Release of information
• Practice closure services
• EMR data extraction

Headquarters

HQ city

Nashua

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Medical Records Custodianship Services: One-time setup fee covering retention period with no recurring fees for practices closing or retiring. Includes secure transport, EMR extraction, HIPAA-compliant storage, patient notifications, and release of information fulfillment.
2. Medical Records Request Processing: Fees charged for processing medical records requests from patients, legal firms, insurance companies, and healthcare providers. Uses average cost method per HIPAA Privacy Rule 45 CFR § 164.524. Covers labor for copying, scanning, data conversion, encryption, and delivery. MRM processes over 2,300 patient record requests each month.
3. ROI Fulfillment Outsourcing: Outsourced Release of Information (ROI) fulfillment services for medical practices not closing, helping them stay compliant while allowing staff to focus on healthcare delivery.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Morgan Records Management provides nationwide medical records custodianship services for physician practices and hospitals that are closing or retiring, taking responsibility for the entire records lifecycle from secure transport, EMR extraction and conversion, HIPAA-compliant physical and digital storage, patient notification, and release of information fulfillment through the end of the state-mandated retention period. It also offers outsourced ROI (Release of Information) fulfillment to active medical practices and processes records requests from patients, legal firms, and insurance companies through secure online portals.

Product overview

Morgan Records Management offers a unified medical records management platform centered on its Medical Records Custodianship Service for closing medical practices and hospitals. The platform includes a Secure Records Request Portal for patients and third parties to submit requests and track status, Hospital Closure Services for healthcare facility transitions, and supporting resources such as a state-by-state retention laws guide and practice closure checklists. The core offering combines secure physical storage of paper, x-ray, and pathology records with digital EMR extraction, conversion, and secure delivery services, all tied together through a HIPAA-compliant online portal for request management and status tracking.

Differentiator

Problem solved

Functional benefit

Products and services

• Medical Records Custodianship Service Comprehensive white-glove service for medical practices that are closing or retiring; covers secure transport, EMR extraction and conversion across 75+ EMR systems, HIPAA-compliant physical and digital storage, patient notifications, release of information fulfillment, and secure destruction at the end of the state-mandated retention period. Priced as a one-time setup fee with no recurring custodianship charges.
• Hospital Closure Services Specialized service for hospitals and healthcare facilities undergoing closure, including medical records custodianship, regulatory compliance and state reporting, inventory and chain-of-custody documentation, mass patient notification, and long-term storage or digital conversion of records.
• Medical Records Request Service Per-request release of medical records for patients, legal firms, and insurance companies, fulfilled through a HIPAA-compliant online portal with 256-bit encryption. Supports secure email link, USB drive mail, disc pickup, and third-party EMR upload delivery, with average-cost-method pricing per 45 CFR § 164.524 and processing times up to 30 business days.
• Insurance and Legal Records Request Service Specialized records request workflow for legal and insurance third-party requestors, requiring a third-party requestor designation, company reference ID, and upload of supporting legal documentation such as subpoenas or authorizations. Fulfilled through a dedicated intake portal.
• ROI Fulfillment Outsourcing for Active Practices Managed-service outsourcing of release of information (ROI) fulfillment for active medical practices that are not closing; provides a dedicated account manager, access reporting, and ongoing notifications so practice staff can focus on patient care while staying compliant with HIPAA.

Quantifiable outcome

• 75+ 5-Star Reviews demonstrating highest rated service
• +3 more outcomes

Named customers8 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered minor.

• EffectusminorStrategic or Co-development PartnerProcess transformation company serving emerging brands up to $30B Blue Chips, providing meticulous guidance and structure executing millions of transactions per day.
• Pension Technology GroupminorOthersTechnology solutions provider for public employee pension community with over 30 years of combined experience in pension software industry.
• Record NationsminorChannel Partner/ Reseller/ DistributorRecords information management solutions provider with extensive network of record storage companies, document scanning companies, and tape rotation companies throughout North America.
• Prime ComplianceminorImplementation/ SI/ Consulting PartnerCertified HIPAA Professional and Certified Security Compliance Specialist providing compliance consulting services.
• PrismminorStrategic or Co-development PartnerGlobal advocate for safeguarding physical and digital information, serving organizations that provide information management services.
• Morgan StorageminorStrategic or Co-development PartnerSelf-storage company offering business record storage, warehousing, residential goods and vehicles storage, local packing and moving services with indoor heated units.

Scale indicators12 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• DocuVault: Records management firm providing secure offsite storage, scanning, and shredding with healthcare and legal clients. Highly comparable to MRM's service mix and customer profile, especially around compliant document handling.
• Corodata: Records storage and information management company serving healthcare, legal, and corporate clients with physical and digital offerings. Comparable to MRM's bundled custodianship and document conversion model.
• MediCopy: Medical records retrieval and release-of-information service provider focused exclusively on healthcare providers. Directly comparable to MRM's ROI fulfillment and medical records request processing operations.
• Record Nations: Records information management marketplace aggregating storage, scanning, and shredding providers across North America. Listed as a channel partner of MRM but also competes in the same buyer conversations for records management services.
• Access Information Management: Records and information management provider offering physical storage, digital conversion, and secure destruction across North America. Closely matches MRM's core service bundle, including document scanning, retention management, and healthcare-focused workflows.
• Vital Records Control: Records management company providing offsite storage, digital imaging, and shredding services to healthcare, legal, and business clients. Operates with similar customer segments and service lines as Morgan Records Management.
• DataBank: Information management and storage company offering physical records management, digital conversion, and secure shredding. Similar size and service profile to Morgan Records Management, with overlapping healthcare and legal customer bases.

Emerging players

• ChartRequest: Digital-first medical records request platform enabling patients and third parties to retrieve records online. Overlaps with MRM's Records Request Portal but represents the more digitally native, software-led approach to the same workflow.
• Cohasset Associates: Records management consultancy and provider specializing in retention policy, RIM program development, and digital transformation advisory. Adjacent to MRM's services, serving similar healthcare and enterprise buyers with compliance-focused expertise.

Broad incumbents

• Iron Mountain: Global leader in records storage, information management, and data protection with a vast physical footprint and enterprise healthcare contracts. Directly comparable to MRM's physical and digital records management offerings but at far larger scale and broader scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Morgan Records Management