Abacus Finance Group has provided credit facilities to back WestView Capital Partners’ refinancing of Receivable Solutions. No financial terms were disclosed. Abacus served as administrative agent and co-lead arranger of the financing. Based in Columbia, South Carolina, Receivable Solutions is a provider of accounts receivable management services to the healthcare industry.
New York, NY, June 25, 2021 – Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – today announced that it served as Administrative Agent and Co-Lead Arranger of senior secured credit facilities to support the refinancing of Receivable Solutions by WestView Capital Partners.
Headquartered in Columbia, SC, Receivable Solutions has been successfully providing accounts receivable management services to the healthcare industry for over 20 years. WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds.
“As always, Abacus made the refinancing process seamless and quick, which allowed the management team to continue executing successfully on our plan,” said WestView Capital’s General Partner Matt Carroll.
“We are very pleased to be partnering with firms that are among the top investors and companies in the revenue cycle management space. Both are true standout professionals in their areas of expertise,” said Tim Clifford, President and CEO of Abacus. “RSI continues to be a strong performer, growing at rates significantly ahead of its peers,” added Abacus Managing Director and COO Sean McKeever. “We continue to be a supportive partner and are excited by RSI’s future prospects, which are fully supported by our Total Partnership Approach™.”
Abacus team members involved in the transaction included Sean McKeever and Joseph Lee. Legal counsel was provided to Abacus by Goulston & Storrs, PC.
About Receivable Solutions, Inc.
Headquartered in Columbia, SC, Receivable Solutions is a national provider of accounts receivable management and revenue cycle services to the hospital and large physician practice market. The Company’s outsourcing solutions offer an attractive value proposition for hospitals looking to outsource all or portions of their revenue cycle operations while maintaining best-in-class patient financial experience. The Company provides a comprehensive range of outsourced services across the RCM continuum, from day one patient receivables to insurance follow up, that are designed to accelerate cash flow, improve operating efficiencies, and enhance profitability. Please visit rsircm.com for more information.
About WestView Capital Partners
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds. WestView partners work with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in industries such as healthcare technology and outsourcing, software and IT services, business services, growth industrial, and consumer. Please visit wvcapital.com for more information.
About Abacus Finance Group, LLC
Celebrating its tenth anniversary in 2021, Abacus Finance is a leading direct lending company, focused on providing cash flow senior financing to private equity/family office-sponsored, lower-middle market companies across diverse industries. Since Abacus’s inception in 2011, it has closed over $2 billion in financings. The firm targets private debt financing opportunities of up to $50 million and finances companies with EBITDA between $3 million and $15 million. Abacus is an affiliate of New York Private Bank & Trust, which was founded in 1850.