"We hired GA as a buy-side advisor so that we could pass on good opportunities for great opportunities, and that is playing out!"
"Greenberg Advisors has been a great and trusted partner to us in this process. Without their relationships and efforts, we wouldn't have completed this transaction."
"GA has done a fantastic job of overhauling our M&A pipeline in short order."
"I cannot speak highly enough of the capabilities GA has brought our team."
"GA did a fantastic job! As a result of GA's approach, our management team was well-prepared and the management meetings went very smoothly."
“One of the most impactful aspects of working with GA is their ability to engage with targets – they can get in front of most anybody. The last time we asked GA about a potential target, they got us a call with ownership in under a week."
"We wouldn’t have gotten here without you and everything you've done. The whole team [at Greenberg Advisors] was fantastic."
"I've never come across a banker that does the level of work that you guys do."
"You crushed it. Without GA keeping me organized, I would have been lost."
"You did right by us."
"When Greenberg Advisors brings us someone to talk to, we listen."
"I am amazed by how much GA is able to absorb so quickly, and their ability to shift throughout different parts of the RCM market so seamlessly."
"It's a breath of fresh air speaking to GA. You understand our space so well, especially in contrast to the generalist firms we've spoken to that don't know much about our world!"
"With a lesser group of investment bankers, our transaction wouldn't have happened."
"[GA led] one of the best-run M&A processes I've ever experienced."
"Your team's help has been instrumental and critical to our success."
“Your expertise in the M&A process was of great value. Our stockholders received consideration 30% higher than expected and clean ‘all cash’ deal terms.”
“Your years of sector-specific experience were evident in your approach and enabled us to quickly yet thoroughly assess a potential transaction from a financial, operational, and strategic perspective.”
"GA had a much higher level of sophistication in the entire due diligence and transaction process than other bankers we have worked with in the past."
“You have fully lived up to the role of trusted advisor with the true best interest of your client front-and-center at all times.”
“Greenberg’s extensive knowledge of the market and the investors interested in [our] industry was critical to our success.”
"You guys have been awesome to work with!"
“Your brilliance shined every step of the way and we certainly could not have achieved this without you. Thank you for being our pillar.”
“Greenberg Advisors is very well networked with non-obvious buyers. They’ve vetted investors that I’ve never heard of, including the group we sold our company to.”
"I was highly impressed with you and your team throughout this process."
"I've worked with a lot of big banks, and you guys put in a lot more value and effort than the bulge brackets. You guys did great work."
“Your sincere desire to achieve the best possible outcome was clear from the day we engaged you. You never took your eye off the goal of maximizing value and closing the deal.”
“[Greenberg Advisors is] a very well-connected, astute and tenacious advisor.”
"[Other bankers] don't do, in any way, shape or form, what you do in terms of preparation... Greenberg Advisors is in a different stratosphere."
“You found us the best buyer for our firm, and for our staff…the process went much smoother than we ever imagined it could.”
“The professionalism and results that Greenberg Advisors provided … exceeded our expectations.”
"I've done about 24 deals in my career. I've never come across a banker that does the work that Greenberg Advisors does. And it's not even close, honestly."
“[GA’s diligence process] was the best I’ve ever been a part of… It made me more confident doing more deals and bigger deals in the future. It was a comprehensive and excellent process.”
“Any company [that] . . . engage[s] your services will be in exceptional hands.”
Greenberg Advisors are "the pre-eminent M&A advisors when it comes to revenue cycle and [healthcare] information technology."
"Your team has done a great job on our transaction and I wanted to thank you."
"...the price of having GA on my side was well worth it and paid for itself many times over."
"You guys really put together a nice, comprehensive data package that is very impressive."
“Your industry data is very impressive!”
“You should talk to [GA] when you want to sell.”
“You managed us through [the transaction] with a lot of guidance and some hand-holding especially in the treacherous moments, and truly helped us navigate [to a successful closing].”
Many clients have reached their goals by leveraging our middle-market transaction expertise.LEARN MORE
Year: 2025
Sector: RCM
Role: Buy-Side Advisor
Description:Greenberg Advisors was engaged by Knack RCM, a tech-enabled RCM company, and its private equity backer, LKCM Headwater, as their exclusive advisor to originate acquisition opportunities and facilitate transactions, from beginning to end, in highly strategic end-markets. The acquisition of PPM Partners, an anesthesia-focused RCM specialist, provides Knack RCM with additional market share in the segment, which GA also helped it enter by facilitating a previous acquisition.
How Greenberg Advisors Added Value: GA’s detailed understanding of the RCM market provided access to this strategic opportunity, which enabled Knack RCM to establish itself as a substantial player in the attractive anesthesiology market. Given the geographic coverage, end-market, and management team, GA knew that PPM Partners would perfectly complement Knack RCM’s prior acquisition, a sentiment echoed by both management teams. GA’s relationships and experience opened the door for its client to engage in discussions with PPM Partners and its sell-side advisor on a proprietary basis. This is the third transaction GA has facilitated for Knack RCM, significantly expediting its growth.
Year: 2024
Sector: RCM & BPO
Role: Buy-Side Advisor
Description:Greenberg Advisors was engaged by LKCM Headwater and its portfolio company, Knack RCM (“Knack”), as their exclusive advisor to overhaul and ramp up its deal flow in select markets within RCM. The acquisition of HealthyBOS deepens our client’s operational capabilities in the Durable Medical Equipment (“DME”) markets as well as other specialties and provides a substantial presence in the Philippines, a highly strategic geography.
How Greenberg Advisors Added Value: GA initiated dialogue with HealthyBOS and played an integral role throughout the transaction, from analyzing massive amounts of financial data in a variety of currencies (given the various locations), to confirmatory diligence and the negotiation of deal documentation. GA and Knack operate and view each other as partners in every sense of the word, and this acquisition is the second buy-side transaction that GA has completed with this client. Knack has remarked that they’ve seen a substantial improvement in the quality of assets that they’ve reviewed since engaging GA.
The speed with which Greenberg Advisors tracked down this target was truly impressive.
Year: 2024
Sector: RCM
Role: Buy-Side Advisor
Description:Welsh, Carson, Anderson & Stowe (WCAS) and its portfolio company, EnableComp, engaged Greenberg Advisors as their exclusive advisor to expand its access to acquisition opportunities within EnableComp’s niche markets and to benefit from GA’s proven M&A transaction advisory services. The acquisition of ANI Healthcare Solutions adds denials management and zero-balance review expertise as well as marquee clients, enhancing EnableComp’s offerings, client base, and most importantly, its value.
How Greenberg Advisors Added Value: GA engaged many dozens of attractive, and often difficult-to-find, targets that provide unique strategic advantages and synergies specific to EnableComp’s objectives. GA’s relationship with the seller, experience in similar transactions, and understanding of the RCM and HCIT markets enabled our team to advise EnableComp and WCAS throughout this entire transaction, including helping the founder-owned seller navigate the complexities of an M&A transaction.
Year: 2024
Sector: RCM
Role: Buy-Side Advisor
Description:Greenberg Advisors was engaged by LKCM Headwater and its portfolio company, Knack Global, as their exclusive advisor to generate greater deal flow than it was seeing on its own and to provide full-service M&A advisory in the acquisition of well-run companies in new healthcare specialties. The acquisition of Merrick Management, which specializes in serving anesthesia providers, represents our client’s entrée into a highly-strategic vertical, significantly enhancing its management team, scale, total addressable market, and its valuation.
How Greenberg Advisors Added Value: We introduced our client to Merrick Management within five weeks of starting this engagement and completed the acquisition five months later. GA played an instrumental role throughout this transaction, from sourcing the opportunity, advising on deal documentation, and driving the diligence process through the closing. GA, its client, and the seller are ecstatic about the future of this partnership.
Year: 2024
Sector: RCM
Role: Buy-Side Advisor
Description:Greenberg Advisors was engaged by Infinx (backed by KKR and Norwest Venture Partners), a sizable, technology-enabled Revenue Cycle Management company, as its exclusive advisor to facilitate acquisitions that would augment its capabilities and client base. This engagement resulted in the acquisition of Florida-based MedReceivables Advisor, a substantial pathology-focused billing company, which served as Infinx’s entrée into a coveted market with favorable tailwinds. In addition to many strategic benefits, this transaction provides significant revenue and EBITDA growth for our client.
How Greenberg Advisors Added Value: GA played a vital role throughout this engagement, from sourcing opportunities, to identifying this particular asset that synched so well with our client’s interests, to helping negotiate economic terms. GA’s relationship with the seller was critical to initiating dialogue between the parties. GA also led a comprehensive diligence process, often suggesting creative solutions to key deal points, to close the transaction to our client’s satisfaction.
Year: 2023
Sector: RCM & HCIT
Role: Buy-Side Advisor
Description:Cosentus retained Greenberg Advisors (GA) as its exclusive advisor to identify and advise in completing acquisitions in the RCM space. The acquisition of AllianceMed and its subsidiary, MedCloud, provides Cosentus with specialized RCM services and technology solutions tailored for the Ambulatory Surgery Center (ASC) and Durable Medical Equipment (DME) markets, as well as access to new multi-specialty physician group clients.
How Greenberg Advisors Added Value: GA engaged dozens of acquisition targets meeting Cosentus’ acquisition criteria. GA’s comprehensive understanding of RCM and HCIT, and its relationship with the AllianceMed shareholders, proved instrumental in facilitating this transaction and navigating a complex diligence process.
Greenberg Advisors has been a great and trusted partner to us in this process. Without their relationships and efforts, we wouldn’t have completed this transaction.
Year: 2023
Sector: RCM
Role: Buy-Side Advisor
Description:Greenberg Advisors was engaged by EMS|MC and BV Investment Partners as their exclusive advisor to identify and complete acquisitions that would grow market share and further build out EMS|MC’s offerings. The acquisition of PWW Advisory Group, specializing in consulting in the areas of RCM, operations, compliance, and education, strengthens our client’s suite of solutions and further cements its leadership position in the EMS market.
How Greenberg Advisors Added Value: GA engaged many dozens of attractive targets meeting our client’s narrow search parameters, resulting in four completed transactions for this client to-date. Given the nature of this transaction, diligence was very complex. GA further helped in analyzing information received from the seller, specifically within its client and financial trends, highlighting areas of promise and/or of concern, and examined the different segments of the business, given its multiple offerings.
Year: 2022
Sector: RCM
Role: Buy-Side Advisor
Description:Sheridan Capital Partners and its portfolio company, SimiTree, engaged Greenberg Advisors (GA) as their exclusive advisor to help grow SimiTree’s presence within the behavioral health and post-acute markets and to find additional, complementary solutions to offer clients. The acquisition of fast-growing GreenpointMed strengthens SimiTree’s customer base in the Southeast region, and bolsters its management team through the addition of the Founder and President of GreenpointMed. This is one of two transactions completed in December that resulted from GA’s buy-side partnership with SimiTree and Sheridan.
How Greenberg Advisors Added Value: GA’s relationship with the Founder and President of GreenpointMed was critical in discussing and resolving key deal points and answering questions throughout the process.
Year: 2022
Sector: RCM & HCIT
Role: Buy-Side Advisor
Description:Sheridan Capital Partners and its portfolio company, SimiTree, engaged Greenberg Advisors (GA) as their exclusive advisor to help grow SimiTree’s presence within the behavioral health and post-acute markets and to find additional, complementary solutions to offer clients. GA engaged Afia in discussions, which provides consulting and analytics solutions to behavioral health clients nationwide, as a possible fit for SimiTree. This transaction immediately enhances SimiTree’s technology offerings, while also providing meaningful consulting resources. This is the second of two December transactions resulting from GA’s partnership with SimiTree and Sheridan.
How Greenberg Advisors Added Value: GA’s longstanding relationship with the sellers was instrumental in this engagement, as it enabled GA to engage them in dialogue and helped SimiTree swiftly assess the data received to develop a deal rationale and construct, and later, to drive the transaction to a closing.
Year: 2022
Sector: RCM
Role: Buy-Side Advisor
Description:EMS|MC, a Revenue Cycle Management and Consulting company specializing in the EMS market, and its private equity-backer, BV Investment Partners, engaged Greenberg Advisors as their exclusive advisor to identify and complete acquisitions that would grow market share and expand its capabilities. GA advised in the acquisition of TransMedic, a growing Midwest-focused billing company with sought-after municipal and private EMS and Fire Department clients. This transaction, in addition to providing substantial billing resources, creates a targeted foothold in a meaningful region. This is the third acquisition resulting from GA’s partnership with this client.
How Greenberg Advisors Added Value: GA identified several high-value targets that resulted in multiple acquisitions with this client. This seller specifically indicated that its openness to engaging in a discussion with GA regarding our client was due to GA's clear specialization and experience in RCM transactions.
Year: 2022
Sector: RCM & ARM
Role: Buy-Side Advisor
Description:Greenberg Advisors was engaged by Ovation Healthcare (FKA QHR Health), a private equity-backed hospital management services and consulting company, as its exclusive advisor to identify and complete an acquisition to enhance its RCM expertise and market presence. The acquisition of MedCo is immediately accretive and expands our client’s early-out, insurance follow-up, and staffing capabilities while also adding internally developed workflow software. Ovation also gained additional management talent and depth as a result of the acquisition.
How Greenberg Advisors Added Value: Among the hundreds of targets that GA identified, analyzed and summarized for its client, MedCo was an ideal fit. GA played an instrumental role in facilitating the transaction throughout, leading weekly diligence calls involving Ovation and MedCo, analyzing key data including client and other trends, and helping structure the original offer using deal comparables and other insightful data from GA’s proprietary M&A database.
Year: 2022
Sector: RCM
Role: Buy-Side Advisor
Description:Greenberg Advisors was engaged by EMS|MC, a private equity-backed Revenue Cycle Management and Consulting company specializing in the EMS market, as its exclusive advisor to identify and complete acquisitions that would grow market share and add new capabilities. The engagement resulted in the completion of four transactions, including the acquisition of Andres Medical Billing, a sizable EMS billing company that further expands our client’s customer base in a highly strategic geography and adds meaningful billing resources. This is the second acquisition resulting from GA’s buy-side partnership with this client.
How Greenberg Advisors Added Value: GA engaged the owners in a conversation and opened the door for our client, despite their initial comment that they normally disregard outreach from buyers and investment bankers and that they were not interested in selling.
Year: 2022
Sector: RCM
Role: Sell-Side Advisor
Description:Atwater Solutions, LLC (Atwater) engaged Greenberg Advisors as its exclusive advisor to find a strategic acquirer for the fast-growing business. The company provides healthcare technology consulting, implementation, and optimization services, as well as RCM improvement solutions for many hospitals throughout the US. Atwater sought to partner with a business that could match its superior client service while providing additional support to foster growth.
How Greenberg Advisors Added Value: GA maximized transaction economics while finding a like-minded buyer that similarly values its role in transforming the healthcare market.
Our shared vision, focus on client success, and commitment to our consultant associates are a few of the many reasons we knew we found the right fit.
Year: 2022
Sector: HCIT
Role: Buy-Side Advisor
Description:Greenberg Advisors was engaged by EMS|MC and BV Investment Partners as their exclusive advisor to identify and complete acquisitions that would add strategic, tangential offerings and increase market share. The acquisition of VAIRRKO, which offers a suite of human resources-related solutions and Learning Management System (LMS) products, adds complementary product lines from which EMS|MC’s clients will benefit.
Year: 2022
Sector: ARM
Role: Buy-Side Advisor
Description:Greenberg Advisors was engaged by ARMStrong Receivables Management (formerly Brown & Joseph / Altus) and Incline Equity Partners as their exclusive advisor to lead an acquisition search for commercial collection firms that met their strategic objectives. The target in this transaction is a well-established firm with longstanding client relationships that include multiple Fortune 500 companies. This is the second transaction resulting from Greenberg Advisors' buy-side engagement with ARMStrong.
How Greenberg Advisors Added Value: This transaction is representative of GA’s comprehensive, long-term relationships with owners and senior executives in ARM. It also reflects GA’s depth in understanding the most critical items to its buy-side clients as they consider an acquisition, as well as GA’s experience in working with leading private equity firms and strategic buyers globally in their efforts to acquire a platform business or expand via add-on acquisitions.
Year: 2022
Sector: RCM & HCIT
Role: Sell-Side Advisor
Description:Presidiohealth, Inc. (Presidio) retained Greenberg Advisors as its exclusive advisor to represent its founder and investors in the sale of the company. Presidio leverages clinical artificial intelligence and machine learning software in its solutions that automate and optimize clinical documentation and coding processes while also providing business intelligence dashboards. The company specializes in addressing the needs of the emergency room, urgent care, and hospitalist settings, and its solutions are widely applicable to other specialties within healthcare. The buyer, DeliverHealth, which was recently spun-out of Nuance Communications, will leverage Presidio’s technology to bolster the offerings that it provides to 800+ healthcare organizations across 2,200 facilities.
How Greenberg Advisors Added Value: GA saw an ideal fit with DeliverHealth and recognized the applicability of Presidio's suite of software solutions to bring efficiencies to the buyer. Recognizing the impending lift, GA was also able to significantly improve the deal terms for Presidio throughout diligence.
You managed us through with a lot of guidance and some hand-holding, especially in the treacherous moments.
Year: 2021
Sector: HCIT
Role: Buy-Side Advisor
Description:Atlantic Street Capital engaged GA as its exclusive advisor to increase the value of its portfolio company, eIVF, by investing into a fertility-focused business that could leverage its data. GA identified many targets that provide solutions, such as predictive analytics and clinical decision support (CDS) tools to the fertility market, before ultimately advising in the investment into Univfy, a leading software platform that leverages clinical data and AI to determine IVF success rate with individual patients. The unique combination will benefit the entire fertility market and the many couples attempting to navigate the family-planning process.
How Greenberg Advisors Added Value: Atlantic Street Capital and eIVF engaged GA with very specific investment parameters within the fertility market. GA’s extensive healthcare and HCIT background proved critical to identifying and engaging with the right targets that accomplished all of our client’s goals.
GA was absolutely critical to our success. GA’s healthcare specialization enabled them to quickly understand our goals in the fertility market and generate opportunities right away.
Year: 2021
Sector: RCM & HCIT
Role: Sell-Side Advisor
Description:Greenberg Advisors was engaged as the exclusive advisor to represent a client in the sale of its business. The client is a growing provider of tech-enabled RCM and consulting services focused on improving revenue cycle functions, such as charge capture, providing outsourced RCM services, and optimizing operations for hospitals throughout the United States. GA leveraged its relationships and unmatched industry expertise to find the ideal partner. The buyer is a multinational strategic providing RCM services and technology solutions to US-based providers. This is the seventh transaction that GA advised on in 2021.
How Greenberg Advisors Added Value: GA ran a robust sell-side process to find the right fit and maximize deal terms for its client. Ultimately, the buyer was a physician-focused RCM firm interested in entering the acute care market. GA’s specialization and constant communication with buyers across RCM and HCIT provided the critical insight to identify the right buyer.
We wouldn’t have gotten here without you and everything you've done. The whole team [at Greenberg Advisors] was fantastic.
Year: 2021
Sector: RCM
Role: Buy-Side Advisor
Description:ALN Medical Management (ALN) retained GA as its exclusive advisor for buy-side and strategic advice to bolster the company’s organic growth. The acquisition of selected assets of Fivos is the culmination of GA’s extensive process to identify and analyze acquisition candidates that would fit ALN’s transaction priorities, among them that the acquisition should be highly accretive to ALN. This is the second acquisition resulting from GA’s partnership with ALN.
How Greenberg Advisors Added Value: GA's depth and understanding of the RCM market allowed it to identify non-obvious acquisition targets, including this carve-out. This was the second transaction that GA completed for this client.
Year: 2021
Sector: RCM & HCIT
Role: Sell-Side Advisor
Description:Innovative Healthcare Systems Inc., specializing in emergency medicine, provides revenue cycle management (RCM) services and software to physician practices throughout the United States. GA found a natural and well-suited buyer in Harris, which will provide an excellent home to foster the continued growth of Innovative. GA served as the exclusive sell-side advisor to Innovative.
Year: 2021
Sector: RCM
Role: Sell-Side Advisor
Description:Ohio-based Medical Reimbursement, Inc. (MRI) engaged Greenberg Advisors as its exclusive advisor in its sale. MRI provides billing and coding services to hospital-based physician groups, with a specialization in emergency medicine. The buyer is a well-established strategic entity that provides an array of RCM services.
Year: 2021
Sector: RCM
Role: Buy-Side Advisor
Description:Abu Dhabi-based Gulf Capital retained Greenberg Advisors as its exclusive advisor to lead its acquisition search for RCM platforms in the United States to build a global business, augmenting its existing portfolio company, Accumed Practice Management, which provides RCM services in the United Arab Emirates and Saudi Arabia. Identifying the mental health / behavioral health market as a key focus area, GA sourced and completed a transaction with Los Angeles-based Hansei Solutions, a leader in its sector, with top-tier management and significant domain expertise. This was the second of two transactions that GA completed with Gulf with a combined enterprise value of approximately $60 million.
Year: 2021
Sector: RCM
Role: Buy-Side Advisor
Description:Revco Solutions and its private equity-backer retained GA as their exclusive advisor to advise in its strategy to acquire businesses with complementary offerings. As part of this engagement, GA sourced qualified candidates based on its many relationships and its detailed knowledge of industry participants, their offerings, financial profile, and similar data. ARMC Financial Services, which offers denials management services to hospitals and health systems, was an excellent fit with Revco’s acquisition criteria. This represents the second transaction that GA has completed in the denials management sector in recent months.
Year: 2021
Sector: RCM
Role: Buy-Side Advisor
Description:Abu Dhabi-based Gulf Capital retained Greenberg Advisors as its exclusive advisor to lead its acquisition search for RCM platforms in the United States to build a global business, augmenting its existing portfolio company, Accumed Practice Management, which provides RCM services in the United Arab Emirates and Saudi Arabia. GA leveraged its unmatched industry data and long-lasting relationships, which ultimately led to an investment in Eclat Health Solutions, a market-leader in the coding space primarily servicing hospitals and health systems. This transaction bolstered Gulf with a talented team and substantial offshore capabilities. This was the first of two transactions that GA completed with Gulf with a combined enterprise value of approximately $60 million.
Year: 2020
Sector: RCM
Role: Buy-Side Advisor
Description:ALN Medical Management retained Greenberg Advisors as its exclusive advisor to lead its acquisition search for RCM firms with talented leadership, scale, and clients in new specialties, which resulted in ALN's acquisition of Nexus Healthcare Solutions. Leveraging years of specialization and relationships with owners, GA quickly identified that Nexus would be a good fit for ALN. Nexus offers end-to-end billing services for an array of providers including behavioral health practices, ambulatory surgery centers (ASCs), gastroenterologists, and others. This marks GA's 4th completed transaction in 2020.
How Greenberg Advisors Added Value: GA advised ALN throughout the entire process, from refining ALN's strategy to identifying potential candidates to initial discussions to negotiations, diligence and closing. Transaction diligence was completed on schedule and on an expedited basis.
Year: 2020
Sector: ARM
Role: Buy-Side Advisor
Description:Brown & Joseph / Altus engaged Greenberg Advisors as its exclusive advisor to lead its acquisition search for commercial collection firms with attractive client relationships and talented management. Hunter Warfield (“HW”), while focused predominately on consumer collections, had an established and growing commercial collection practice.
How Greenberg Advisors Added Value: This transaction is representative of GA’s comprehensive, long-term relationships with owners and senior executives in ARM, as GA and the shareholder of HW have known each other for at least 15 years. It also reflects GA’s understanding of the nuances and strategic angles that ARM buyers consider when approaching an acquisition, and its experience in working with private equity firms and strategic buyers in their efforts to expand via acquisition.
Year: 2020
Sector: RCM
Role: Sell-Side Advisor
Description:Praxis Healthcare Solutions provides revenue cycle management (RCM) services including revenue integrity, denials management, insurance follow up, and complex claim resolution for hospitals and long-term care facilities throughout the United States. GA maximized valuation and deal structure for Praxis while facilitating an expedited process by leveraging its RCM expertise, relationships, and intimate understanding of buyers’ acquisition interests, which allowed GA to approach a small group of the most qualified and aggressive buyers. GA served as the exclusive sell-side advisor to Praxis.
Year: 2020
Sector: RCM & ARM
Role: Sell-Side Advisor
Description:Arcadia Recovery Bureau is a growing provider of RCM services, focused on Extended Business Office (EBO) and receivables management services for hospitals, large physician groups, and other creditors throughout the United States. The buyer, Annuity Health, was created from the merger of AMCOL Systems, Inc. and RevMD Partners, LLC. GA served as the exclusive sell-side advisor to Arcadia.
How Greenberg Advisors Added Value: Leveraging our extensive relationships with strategic investors and intimate knowledge of their investment interests, GA was able to approach a very narrow group of vetted buyers while still maximizing valuation and terms. GA's facilitation of the diligence process ensured a fast-moving, well-organized process, prompting our client to call it "one of the best-run M&A processes I've ever experienced."
GA understands our business and the challenges in running a successful business, and that was of enormous help in continuing to move the sales process along.
Year: 2019
Sector: RCM
Role: Sell-Side Advisor
Description:PARA HealthCare Financial Services provides tech-enabled services for acute care and critical access hospitals across the US. Its offerings focus on revenue integrity, pricing analytics, and various other revenue cycle solutions closely linked to coding and the hospital chargemaster. By combining with HFRI, both companies will benefit by leveraging the expertise and client relationships of the other. This is a great example of the depth of GA’s network, which includes buyers with unique strategic value that can deliver considerable advantages to the selling shareholders. GA served as the exclusive sell-side advisor to PARA.
When I tried to sell without GA, I kept getting each buyer’s lowest offer. In this transaction, the price of having GA on my side was well worth it and paid for itself many times over.
Year: 2019
Sector: ARM
Role: Sell-Side Advisor
Description:Navient (Nasdaq:NAVI) retained GA as its exclusive advisor to divest one of its subsidiaries, General Revenue Corporation (GRC). GRC, based in Mason, Ohio, is one of the largest Accounts Receivable Management firms to focus on the college and university market. GA's depth of experience in ARM transactions and extensive network in the industry enabled Navient to find the ideal partner in SinglePoint Group International Inc., which had been searching for a well-run, US-based platform.
Year: 2018
Sector: RCM
Role: Buy-Side Advisor
Description:Infinx retained Greenberg Advisors as its exclusive advisor to identify and structure the acquisition of a specialized RCM firm that would fit well within the Infinx platform and its growth goals. The engagement resulted in a transaction with Houston-based Enhanced Revenue Solutions, which services mainly Cardiology clients. GA’s deep understanding of the RCM market was a key component to the success of this engagement.
How Greenberg Advisors Added Value: GA identified and analyzed many dozens of candidates for this client to consider. Ultimately, the seller in this transaction represented the best combination of clients, human talent, and opportunities.
GA understood my business (ERS) and my industry very well, and they took the time to become very familiar with my goals. As a result, I was very comfortable with the team.
Year: 2018
Sector: HCIT & RCM
Role: Sell-Side Advisor
Description:Applied Revenue Analytics, LLC (“AppRev”) provides industry-leading Healthcare IT solutions for hospitals and health systems across the U.S. AppRev’s SaaS-based solutions improve clients’ revenue cycle performance by offering analytics on denied claims, creating and optimizing pricing strategies, and enhancing revenue integrity functions. GA served as the exclusive sell-side advisor to AppRev.
How Greenberg Advisors Added Value: GA’s market depth and tested relationships with financial and strategic buyers of Healthcare IT companies enabled it to secure a transaction that achieved the shareholders’ financial, operational, and transactional goals.
GA was the right fit for us, as my partner and I trusted them to do the right thing. They certainly came through for us.
Year: 2018
Sector: RCM & ARM
Role: Buy-Side Advisor
Description:Meduit, a leading RCM company, retained Greenberg Advisors as its exclusive advisor to complete transactions with RCM and HCIT companies. Based on Greenberg Advisors’ trusted relationships throughout the RCM and Healthcare IT markets, GA presented the Meduit opportunity to the shareholder of Signature Performance Tiburon (SPT), which culminated in the acquisition of SPT’s early-out assets, enhancing our client’s growth, and enabling SPT to deploy resources elsewhere within its operation. This is the fourth transaction in which Greenberg Advisors has advised Meduit (and its predecessor companies).
How Greenberg Advisors Added Value: GA identified and analyzed hundreds of acquisition candidates, gathering data from each to determine which one(s) would be a good strategic fit.
Year: 2018
Sector: RCM & HCIT
Role: Sell-Side Advisor
Description:Healthprime International ("HPI") provides healthcare IT and practice management solutions, as well as a full suite of RCM services, for physician practices across the US. Leveraging onshore and offshore resources, HPI helps physicians navigate the shift to value-based care while focusing on their patients. GA served as the exclusive sell-side advisor to HPI.
Year: 2018
Sector: RCM & ARM
Role: Sell-Side Advisor
Description:J&L Teamworks (“J&L”) is a well-established provider of outsourced RCM services to hospitals and health systems primarily in California. Its offerings include servicing patient receivables, staffing, coding, extended business office (EBO), training, and eligibility screening. GA served as the exclusive sell-side advisor to J&L.
How Greenberg Advisors Added Value: GA’s strategic relationships and industry expertise enabled it to run a streamlined process, maintaining confidentiality throughout the engagement.
Sector: ARM
Role: Sell-Side Advisor
Description:Data and Contact Management Solutions, LLC (“DCM”) is a data-driven, technology-enabled estate recovery firm servicing many of the largest credit grantors and healthcare organizations in the U.S. Greenberg Advisors was engaged by DCM and its private equity owner, Norwest Equity Partners, as their exclusive advisor to develop and execute the most viable strategy for maximizing the value of DCM, given DCM’s unique service and technology platforms. Having achieved many years of profitable growth driven by a highly capable management team, DCM had become the clear market leader in its niche.
How Greenberg Advisors Added Value: As a result of GA’s process expertise and industry depth, we received multiple competitive offers from strategic and financial buyers, and completed the transaction at a substantial valuation with the buyer that offered the best terms for the shareholders and the best fit for management.
Sector: RCM & ARM
Role: Buy-Side Advisor
Description:A result of GA’s buy-side acquisition services for Thompson Street Capital Partners, a mid-market private equity firm, and its portfolio company, Receivables Management Partners (RMP), this transaction expands our client’s presence in the healthcare services market. This is the third acquisition that GA has facilitated for this client in the past 14 months. The transaction is an excellent strategic fit for GA’s client as the acquired company provides the exact services sought in the desired geography, works on the same software platform as the acquirer, and offers many operating synergies. Satisfying the diverse goals of both selling shareholders, one shareholder will transition into retirement while the other will remain in a key role with the company.
Sector: RCM & HCIT
Role: Sell-Side Advisor
Description:Diversified Healthcare Resources (DHR) is a dominant, high-growth player in the eligibility and enrollment sector, providing services and a unique technology platform to major hospitals and health systems throughout California. This transaction represents a significant step forward for DHR’s clients and its staff, which will benefit from greater opportunities and a wider breadth of services focused specifically on Revenue Cycle Management. GA served as the exclusive sell-side advisor to DHR.
How Greenberg Advisors Added Value: DHR hired Greenberg Advisors after it was approached by Cardon Outreach regarding a potential transaction. Greenberg’s first key role in this relationship was to determine Cardon’s level of interest and its valuation of DHR, which Greenberg did within the first week of being retained. Greenberg further facilitated the transaction discussions, managing the diligence process through the completion of the transaction.
Thanks to GA’s unending commitment to our goals and in-depth knowledge of the industry, not only did we successfully complete the sale, but we did so at a level that far-exceeded our valuation expectations.
Sector: RCM & ARM
Role: Buy-Side Advisor
Description:This transaction resulted from our efforts on behalf of Thompson Street Capital Partners, a mid-market private equity firm, and its portfolio company, Receivables Management Partners (RMP), which retained Greenberg Advisors as their exclusive advisor to identify and engage in dialogue with candidates that fit their growth strategy, both geographically and within the healthcare industry. The acquired company, Allied Business Services, is a well-established provider of healthcare receivables management services in the upper Midwestern U.S. The selling shareholder valued the buyer’s deep understanding of his business, their commitment to his staff and clients, and their ability to quickly conclude an equitable transaction. This acquisition makes sense for both buyer and seller, particularly given the investments required in order to operate and grow a small to mid-sized receivables management firm in today’s market.
Sector: RCM & ARM
Role: Buy-Side Advisor
Description:Our client is a private equity-backed provider of healthcare ARM / RCM services to large and mid-sized health systems. Greenberg Advisors was engaged as the exclusive advisor for buy-side and advisory services to expand our client’s geographic coverage and to accelerate growth. This transaction, which involved the acquisition of a well-run regional provider of bad debt collection and early-out services, significantly strengthens our client’s market share and is an excellent cultural fit for both companies.
How Greenberg Advisors Added Value: Greenberg Advisors held detailed discussions with well over 60 qualified targets, carefully vetting and analyzing financial and operational data provided to assess the potential strategic fit with our client.
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