Rockville, MD – October 13, 2023 – Greenberg Advisors (GA), the leading M&A advisor in Revenue Cycle Management (RCM) and Healthcare IT (HCIT) transactions, is pleased to announce that its client, Cosentus, has acquired AllianceMed and its subsidiary, MedCloud Software Solutions (MedCloud). Terms of the transaction were not disclosed.
AllianceMed specializes in in-network and out-of-network billing for Ambulatory Surgery Centers (ASCs), Durable Medical Equipment (DME) companies, and multi-specialty physician groups. MedCloud offers a suite of technology solutions that includes billing software, an EMR tailored for ASCs, and DME management technology, among others. The companies are headquartered in Phoenix, Arizona with a delivery center in India. Alex Cushman, CEO of AllianceMed, said of the transaction, “We are very excited to be a part of the Cosentus family. We see such a strategic fit amongst the teams and are ready to unlock all of the combined potential.”
G.S. Bhalla, CEO of Cosentus noted, “With MedCloud, we are investing in a best-in-class cloud-based practice management solution with highly customizable workflows and reporting capabilities. We also plan to invest in developing AI tools to offer even greater efficiencies to our clients. We are very excited about this acquisition and look forward to working with a great team to help build the platform as part of our broader strategy to become the industry-leading tech-enabled solutions provider to independent physician groups and facilities.”
Cosentus retained Greenberg Advisors to identify and advise in completing acquisitions in the RCM space. Bhalla also remarked, “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.”
Zach Eisenberg, a Managing Director at GA, commented, “We believe we found a unique business for our client that fits really well with their strategic goals. The future looks brighter together for these businesses.” Casey Krasko, a Senior Associate at GA, added, “Cosentus is partnering with a great company that brings specialized ASC knowledge and key technological capabilities to the combined entity.”
The GA deal team included Brian Greenberg, Zach Eisenberg, Casey Krasko, and Parker Lewis.
Cosentus is a globally-recognized business services company offering outsourced solutions in healthcare revenue cycle management, IT, accounting and digital marketing. Headquartered in Orange County, California, with offices in Montana, Colorado, New York, Missouri, Texas, Utah, India, Dubai, and London, Cosentus was recently included been recognized by Inc. 5000 as one of the fastest growing firms in the US two years in a row and has been certified as a “Great Place to Work” in 2022 and 2023.
About Greenberg Advisors
Greenberg Advisors, LLC provides world-class M&A and strategic advisory solutions to Business Services and Technology companies in the Revenue Cycle Management (RCM), Healthcare Information Technology (HCIT), Accounts Receivable Management (ARM), and Business Process Outsourcing (BPO) sectors.
Focused on these sectors for over 25 years, the firm’s professionals offer a comprehensive, yet highly specialized perspective from which to advise clients, resulting in the completion of over 150 M&A, valuation, and strategic planning engagements. These client successes reflect Greenberg’s distinct client-first approach, deep sector expertise, objective point of view, and work ethic.