Bolder Healthcare Solutions, which is backed by The Edgewater Funds and JZ Capital Partners, has acquired Healthcare Receivable Professionals Inc. Financial terms weren’t announced. Healthcare Receivable provides services for third party liability accounts and specializes in healthcare reimbursement for all payers.
LOUISVILLE, Ky., June 27, 2016 /PRNewswire/ — Bolder Healthcare Solutions (“BHS”), one of the fastest growing providers of revenue cycle management (RCM) to the healthcare market, is pleased to announce that it has recently acquired Healthcare Receivable Professionals, Inc. (“HRP”), a leader in coordination of third party liability accounts for regional health systems, for-profit and not-for-profit health systems and hospitals in the state of Georgia.
HRP was founded in 1996 by Clint Harkins, who will serve as Divisional President in the combined company. HRP will operate as a division within the Avectus Healthcare Solutions (“Avectus”) platform, which was acquired by BHS in June of 2015.
CEO of Avectus, Tim Smith, commented, “We are extremely excited about the synergies created by the addition of the HRP team. They add tremendous management depth and knowledge of the challenges our clients face on a daily basis.”
HRP provides hospitals a comprehensive solution for third party liability accounts and specializes in healthcare reimbursement for all payers. The HRP management team brings unparalleled experience in the legal and healthcare fields.
CEO of Bolder Healthcare Solutions, Michael Shea, stated, “We are delighted to have Clint and his team at HRP join our growing platform of RCM specialist companies. HRP shares Bolder’s performance-first vision and they strive to offer best in class services to their clients and to the healthcare market.”
Divisional President and Founder of HRP, Clint Harkins, commented, “Having known Michael Shea for 25 years, I am very pleased to be part of the Bolder Healthcare Solutions family. Additionally, we have great respect for Avectus, as they have a great performance track record. Bolder Healthcare and Avectus bring us great resources and market experience as we continue building our highly specialized services.”
About Bolder Healthcare Solutions
Bolder Healthcare Solutions (BHS) offers a growing suite of best of breed healthcare revenue cycle management services to the Hospital and Physician marketplace. BHS was formed through 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 transactions over the last 35 years. Shea and his team are selectively targeting additional acquisition candidates in the RCM sector. BHS currently has over 2000 employees serving over 600 clients across the U.S.