Bolder Healthcare Solutions has acquired Avectus Healthcare Solutions. Financial terms weren’t announced. Corinth, Mississippi-based Avectus coordinates third party liability accounts and resolution of complex workers’ compensation accounts for hospitals and trauma centers. Bolder Healthcare is backed by The Edgewater Funds and JZ Capital Partners.
LOUISVILLE, Ky., June 23, 2015 /PRNewswire/ — Bolder Healthcare Solutions announced today that it has recently acquired Avectus Healthcare Solutions, a leader in coordination of third party liability accounts and resolution of complex workers’ compensation accounts for hospitals and trauma centers.
Tim Smith, founder and Chief Executive Officer, leads Avectus Healthcare Solutions, headquartered in Corinth, MS. Avectus has experienced significant growth since its inception and leads the market with an impressive track record.
“We are very pleased to become part of the Bolder Healthcare team. Bolder Healthcare brings us great resources and market experience as we continue building our highly specialized services over the coming years,” said Smith.
Avectus provides hospitals a comprehensive solution for third party liability accounts. The Avectus management team specializes in third party liability claim resolution and brings unparalleled experience in the legal and healthcare fields. Avectus utilizes every resource provided by state law including hospital and medical lien statutes and assignment of benefit protections to properly process these complex claims.
“We are delighted that Tim Smith and his team at Avectus will be joining our growing Bolder Healthcare team,” commented Michael Shea, CEO of Bolder Healthcare Solutions. “We are committed to bringing together the best of breed companies, people, services and technologies across the healthcare revenue cycle. We believe this combination will be great for clients, Avectus employees, and the town of Corinth, MS.”
About Bolder Healthcare Solutions
Bolder Healthcare Solutions offers a growing suite of best of breed healthcare revenue cycle management services to the Hospital and Physician marketplace. Bolder Healthcare Solutions was formed though a co-investment partnership between The Edgewater Funds and JZ Capital Partners in coordination with Michael Shea, CEO. The partnership brings more than $2 billion in committed capital and experience from hundreds of private equity transaction over the last 35 years. Shea and his team are selectively targeting additional acquisition candidates in the RCM sector.
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