Rockville, MD – March 21, 2023 – Greenberg Advisors (GA), the leading investment bank in Revenue Cycle Management (RCM), Healthcare Information Technology (HCIT), and Accounts Receivable Management (ARM) is pleased to announce the acquisition of MedCo Services (MedCo) by its client, Ovation Healthcare (Ovation, fka. QHR Health), a hospital management services and consulting company backed by Grant Avenue Capital. Terms have not been disclosed.
MedCo, established nearly 30 years ago, provides tech-enabled insurance follow-up, early-out, staffing augmentation, and related services for acute care hospitals.
GA was retained by Ovation, which services predominantly rural and community hospitals, to identify and complete an acquisition that would enhance its RCM expertise, diversify its client base, and add clients in the acute care market. The acquisition of MedCo accomplishes these goals while also improving Ovation’s technology infrastructure through the acquisition of MedCo’s internally-developed workflow software.
“In this buy-side engagement, we identified and analyzed hundreds of targets that fit Ovation’s investment parameters and MedCo was the ideal fit,” according to Brian Greenberg, CEO of GA. “Our team worked with the Ovation and MedCo teams, analyzing and providing our opinions regarding data received from MedCo, helping our client structure the offer, and leading the deal through the closing of the transaction.”
The Ovation-MedCo deal was one of ten transactions that GA completed in 2022.
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.
