WestView Capital Partners has recapitalized Apex Information Technologies, a provider of back-end billing solutions to healthcare providers. NXT Capital provided senior debt financing for the transaction.
Apex Information Technologies, Inc. (“Apex” or the “Company”), a leading provider of back-end billing solutions to healthcare providers, has been recapitalized by WestView Capital Partners, a Boston-based private equity firm.
Headquartered in St. Paul, Minnesota with an additional facility in Green Bay, Wisconsin, Apex provides a suite of revenue cycle solutions focused on improving patient statements and collections, predominantly for healthcare providers. The Company’s primary services include: (i) electronic and paper statement processing and presentment, (ii) software-as-a-service based support tools that allow customers to manage the entire patient-pay collection process, and (iii) an online payment offering. The Company’s solutions integrate with customers’ existing practice management systems enabling improved billing efficiency, reduced billing costs and increased collections.
“Apex has created a powerful brand by understanding and adapting to our customers’ needs, both in the Midwest and in several new flagship accounts across the country. As patients continue to make up more of the payments in the healthcare industry, it is essential for these providers to be able to communicate effectively with their patients and provide easy payment solutions,” said Brian Kueppers, Founder and CEO of Apex. “Our new partnership with WestView allows us to pursue several new growth areas and capitalize on the industry opportunities that lie ahead. WestView has great experience working with technology-enabled service providers in the healthcare industry and we are excited to have them as a partner as we navigate our next stage of growth.”
“We are excited to partner with the team Brian has put together at Apex. Their continued focus on serving their customers’ needs and developing unique solutions will be the driving force of the Company’s success going forward,” said John Turner, Partner of WestView Capital, who will join Apex’s board of directors. “Our investment in Apex continues WestView’s focus of finding premium caliber management teams with deep sector experience and relationships,” added Turner. “It has been a pleasure getting to know the Apex team. There are some exciting opportunities ahead and this management team is well-positioned to take advantage,” said Tom Reardon, a Principal at WestView Capital who will also join the board.
NXT Capital, LLC provided senior debt financing for the transaction.
About Apex Information Technologies:
Apex Information Technologies is a market leading provider of back-end revenue billing solutions. Through the Company’s proprietary SaaS platforms, myEasyView® and mySecureBill®, Apex provides a complete suite of billing cycle solutions, including electronic and paper statement processing, electronic document presentation solutions, and a feature-rich online payment offering. Apex was founded in 1995 and is headquartered in Saint Paul, Minnesota. For more information, please visit www.apexinformationtech.com.
About WestView Capital Management, Inc.:
WestView Capital Partners, a Boston-based private equity firm focused exclusively on lower middle market companies, manages over $950 million in capital in three funds. WestView partners with existing management teams to sponsor majority and minority recapitalizations, growth, and consolidation transactions in a wide range of industries including business and technology services, healthcare services, software, industrial/manufacturing, and consumer/retail. WestView targets companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $40 million. For more information, please visit www.wvcapital.com.