Bolder Healthcare Solutions, a portfolio company of Edgewater Growth Capital Partners III, L.P., acquired Prospective Payment Specialists. Bolder provides revenue cycle management services to the healthcare market, while PPS offers solutions for billing compliance, revenue and cash flow to hospitals.
Edgewater Growth Capital Partners III, L.P. (“Edgewater”) is pleased to announce that its portfolio company Bolder Healthcare Solutions (“BHS”), a leading provider of revenue cycle management (“RCM”) services to the healthcare market, has recently acquired Prospective Payment Specialists, Inc. (“PPS”).
PPS provides medical coding and revenue cycle management solutions to the largest hospital systems, regional medical centers and critical care access hospitals in the country. For over 25 years PPS has improved the billing compliance, revenue and cash flow for more than 3,500 hospital engagements.
PPS will continue to be led by its founder, Jay Janov, who will serve as its President. PPS will operate as a division within the ROI platform which was acquired by BHS in June of 2015. The combined companies add tremendous knowledge and management depth to the Company’s coding and chargemaster service offering.
Bolder Healthcare Solutions offers a growing suite of best of breed healthcare RCM services to the Hospital and Physician marketplace. BHS was formed through a partnership with experienced industry executive Michael Shea. BHS currently has over 2,000 employees serving over 600 clients across the U.S.
The Edgewater Funds is a Chicago-based private equity firm with $2.3 billion in committed capital. Through Edgewater Growth Capital Partners, we partner with management to help accelerate growth in their businesses. Edgewater focuses on funding high quality middle market companies where we can add substantial value through our capital, our experience and our broad network. Edgewater leverages the experiences of its Partners and the Executive Advisory Board who have distinguished themselves as successful CEOs and business leaders.