MTS Health Investors completed the recapitalization of Avadyne Health, which provides software for outsourced services. MTS partnered with Avadyne’s senior management team on the deal. Terms of the transaction were not disclosed.
MTS Health Investors, LLC (“MTS”), the New York-based healthcare private equity firm, announced that funds managed by MTS have completed the recapitalization of Avadyne Health (“Avadyne” or the “Company”).
Avadyne is a provider of outsourced revenue cycle services and proprietary workflow software solutions. The Company combines patient-centric revenue cycle expertise with technology and data analytics to optimize financial results on behalf of hospital and health systems, while delivering an optimal Patient Financial Experience.
MTS has partnered with Avadyne’s existing senior management team to provide capital to support future growth and expand the Company’s capabilities. Terms of the transaction were not disclosed.
Moises Eilemberg, Avadyne’s Chief Executive Officer, commented, “We are excited to partner with MTS as we enter our next phase of growth. MTS’s extensive knowledge of the revenue cycle management space and strong network of relationships will complement our existing capabilities and help us drive additional value to our customers to further penetrate our target market.”
MTS Senior Managing Director, Curtis Lane, said, “Avadyne’s management team has built a clear market leader in its space and we look forward to partnering with their team to assist in the Company’s continued growth. Their differentiated technology offering and patient-centric approach provide for a robust platform to capitalize on the strong industry tail-winds. As financial responsibility continues to shift to patients, Avadyne’s capabilities in the patient financial engagement space will become increasingly more valuable.”
Houlihan Lokey Capital, Inc. acted as financial advisor to Avadyne. MidCap Financial served as the lead arranger for a senior secured credit facility. McDermott Will & Emery LLP acted as legal advisor to Avadyne and Hogan Lovells LLP acted as legal advisor to MTS.
About Avadyne Health
Avadyne Health provides outsourced revenue cycle management services and workflow software solutions to more than 275 hospitals in 38 states. Avadyne’s Patient Financial Experience (PFX) model unifies all patient financial touch-points across a healthcare organization to drive superior financial benefits and provide patients a more positive experience as they navigate the financial aspect of their healthcare. Avadyne Health was ranked by Black BookTM as the #1 Self-Pay/Early-Out company in the industry. For further information, please visit www.avadynehealth.com.
MTS Health Investors, LLC, located in New York, is a healthcare private equity firm that makes investments in operating companies within the healthcare industry. MTS focuses on companies that deliver greater value for every dollar spent in healthcare. Industry sectors in which MTS invests include: providers of outsourced solutions to the healthcare industry; providers of direct medical services to patients in an institutional, ambulatory, or home setting; providers of managed care and other healthcare insurance services; distributors of medical products; and manufacturers of low-technology medical devices and supplies. For further information, please visit www.mtshealthinvestors.com.