Aquiline Capital Partners has acquired Aspirion Health Resources, a tech-enabled revenue cycle management company that helps hospital and physicians. No financial terms were disclosed.
NEW YORK, May 31, 2018 – Aquiline Capital Partners, a New York-based private equity firm investing in financial services and technology, announced today that it has acquired Aspirion Health Resources, a tech-enabled revenue cycle management company helping hospitals navigate less common sources of health coverage. Aquiline’s investment will support Aspirion’s growth, enabling the company to further expand the complex claims solutions it offers health systems nationwide.
Founded in 2012, Aspirion provides a combination of expertise, process and technology to help healthcare providers maximize recoveries from traditionally hard to settle claims. These complex claims involve payers beyond the major commercial and government health plans and require a disproportionate amount of resources for a medical provider. Using its proprietary claims management system and a full suite of legal resources, Aspirion’s well-trained team works closely with hospital billing staff to optimize reimbursement of motor vehicle accident, Veterans Administration, and workers’ compensation claims. Aspirion’s clients are located across the continental U.S. and range from regional hospitals and physician groups to large, multistate health systems.
“We have long viewed healthcare as a natural extension of Aquiline’s established expertise in the insurance, billing, and payments industries,” stated Jeff Greenberg, Chairman and CEO of Aquiline. “Given Aspirion’s focus on payments from property and casualty payers, we are excited to leverage our deep experience with these payers to help Aspirion meet healthcare providers’ toughest revenue challenges, and we see significant opportunities to create growth.”
The management team is led by Lori Lipocky, CEO of Aspirion. Additionally, Aquiline announced the appointment of Michael O’Boyle as Executive Chairman. Michael brings more than 20 years of leadership experience across healthcare services organizations including The Cleveland Clinic, United Healthcare, and Parallon.
“I look forward to helping Aspirion pursue several exciting growth initiatives as well as an acquisition strategy to further cement its position as a leader in the complex claims RCM market,” commented O’Boyle.
“With provider margins under increasing pressure, Aspirion plays a vital role in managing key payer relationships for our customers,” said Lipocky. “Aquiline, with its experience across both the insurance and payments markets, is the natural partner to help take Aspirion to the next stage of its growth.”
About Aspirion Health Resources
Aspirion helps hospitals and physicians recover otherwise lost claims revenue from motor vehicle accidents, workers’ compensation, the Veterans Administration, and Tricare as well as underpayments and denials.
Aspirion’s experienced team of legal professionals and claims analysts helps ensure that providers receive the revenue rightly due to them on complex claims so that hospitals and their staff can focus on patient care.
About Aquiline Capital Partners LLC
Aquiline Capital Partners, founded in 2005, is a private equity firm based in New York investing in businesses globally across financial services and technology. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit: www.aquiline.com.