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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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. 

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.

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.

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.

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. 

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.

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.

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.

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.

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.

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.

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.

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.

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.

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. 

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.

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.

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.

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.

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).

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. 

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.

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.

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.

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.

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.

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.