​​Eir Partners Invests in ClaimLogiq

​​Eir Partners Invests in ClaimLogiq

Eir Partners, a New York-based private equity firm focused exclusively on companies operating in the healthcare and healthcare technology marketplace sectors, announced on Aug. 16 the completion of a growth recapitalization of ClaimLogiq. Terms of the deal were not disclosed. ClaimLogiq is a medical claims processing company that provides integrated revenue cycle management (RCM) solutions and electronic transaction processing systems and tools for healthcare providers of all size, including hospitals and physicians. Founded in 2015, Eir Partners’ targeted stages of investment include growth equity through control buyouts. Eir Partners has completed or partnered on over $4.2 billion in... Read More »
PE-Backed Revecore Acquires 2 RCM Firms

PE-Backed Revecore Acquires 2 RCM Firms

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... Read More »
3M Spins Off Health Care Business

3M Spins Off Health Care Business

On July 26, 3M (NYSE: MMM) announced its plans to spin-off its Health Care business, which would create two public companies that are well positioned to pursue their respective priorities. The transaction is expected to close by the end of 2023.  Health Care is anticipated to be spun off with net leverage of around 3.0x – 3.5x EBITDA. New 3M expected to retain a stake of 19.9% in Health Care.  The New 3M, with $26.8 billion in sales in 2021, will remain a global material science innovator serving customers across a range of industrial and consumer end markets. Health Care, with $8.6 billion in sales in 2021, will focus on wound care, healthcare IT, oral care and biopharma filtration.... Read More »
Propio Language Services Acquires LSP Ware

Propio Language Services Acquires LSP Ware

Propio Language Services, which provides document translation services, acquired LSP Ware, which serves the healthcare, judicial, education and language service industries. Terms of the transaction were not disclosed. Founded in 2011, LSP Ware is a developer of workforce management software Atrium. The company’s platform offers an end-to-end solution to connect language service companies, healthcare customers and interpreters. Founded in 1998 and owned by TT Capital Partners, Propio Language Services provides phone, video and in-person interpretation. With the acquisition, Propio adds software capabilities to its communication platform for all-in-one interpreting management and delivery.... Read More »
PE-Backed Revecore Acquires 2 RCM Firms

GI Partners Acquires GTY Technology Holdings in $374 Million Deal

GI Partners, a private investment firm, announced it acquired GTY Technology Holdings Inc., a SaaS company that offers solutions for governments, educational institutions and healthcare organizations, for $374 million. GI Partners, founded in 2001, has more than 130 employees with offices in San Francisco, New York, Chicago, Greenwich, Scottsdale and Dallas. The firm’s assets under management total $35 billion and it invests primarily in companies in the healthcare, IT infrastructure, services and software sectors. Boston-based GTY Technology Holdings provides services spanning functions in procurement, payments, grant management, budgeting and permitting. GTY shareholders received $6.30... Read More »
Evolent Health Acquires IPG in $375 Million Sale

Evolent Health Acquires IPG in $375 Million Sale

Evolent Health, Inc., a managed care company, announced it acquired IPG, a provider of surgical cost management solutions, for $375 million. The seller was TPG Growth.  Founded in 2011, Evolent Health is based in Arlington, Virginia, and provides an integrated, value-based care platform to health systems and physician organizations nationwide.  IPG works with health plans, providers, surgical facilities, device manufacturers and patients to improve quality and reduce costs for surgical procedures through optimization of care and device selection. It was founded in 2004 and is based in Alpharetta, Georgia.  The acquisition of IPG will expand Evolent’s specialty... Read More »