Revecore, a provider of revenue integrity and claims solutions for health systems, announced on Aug. 3 its acquisition of two specialized revenue cycle management (RCM) firms. They include Kemberton, based in Franklin, Tennessee, and Cura Revenue Cycle Management (CRCM), based in Tampa, which were acquired for undisclosed prices. Dave Wojczynski, CEO of Revecore, will lead the newly combined entity.
Founded in 2008, Kemberton is a specialized RCM firm that improves complex claims reimbursement. The company serves more than 400 hospitals and processes more than 1 million claims per year.
CRCM is a specialized provider of software-enabled underpayment identification and recovery services to hospitals and health systems nationwide. CRCM solves complex revenue cycle challenges that are often missed by healthcare providers and vendors. Leveraging its proprietary software, CRCM reviews millions of accounts annually and identifies those with actionable underpayments.
Revecore partners with approximately 1,200 hospitals across the U.S. to deliver specialty reimbursement solutions for the most challenging areas of the hospital revenue cycle. Revecore is supported by its institutional shareholders GrowthCurve Capital, which completed its acquisition of Revecore in April 2022, and Riverside Partners, which continues to be a significant investor in the business alongside GrowthCurve and management.
Revecore, GrowthCurve and Riverside Partners were advised by TripleTree serving as financial advisor; McDermott Will & Emory and Davis Polk & Wardwell as legal counsels; and Alvarez & Marsal as financial and operational advisor. CRCM was represented by Robinson & Cole legal counsel. Kemberton was represented by legal counsel Goodwin Proctor.
According to the LevinPro HC database, this marks the 219th eHealth deal of the year, and the 40th deal in the RCM subsector. The RCM deal with the largest disclosed price of 2022 so far is R1 RCM acquiring Cloudmed for $4.1 billion.
