Elevate Patient Financial Solutions, backed by private equity firms Frazier Healthcare Partners and The Edgewater Funds, announced on January 9 the acquisition of Professional Medical Services.
Professional Medical Services is a provider of revenue cycle management (RCM) solutions focused on low-balance accounts receivable resolution. The company was founded in 1991 and is based in Fort Worth, Texas.
Elevate Patient Financial Solutions delivers RCM solutions to hospitals, health systems and health providers nationwide.
The acquisition will expand Elevate’s suite of RCM solutions and reinforce its commitment to addressing the most complex aspects of the revenue cycle for its customers. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this acquisition marks the eighth eHealth transaction of 2024, and the third in the RCM specialty. During 2023, there were 273 eHealth and 55 RCM deals announced.
