Collection Associates LLC, a portfolio company of LaSalle Capital Group, has acquired Money Recovery Nationwide, a Landsing, Mich.-based provider of debt collection services to the healthcare industry. No financial terms were disclosed.
LaSalle Capital Group, L.P.’s (“LaSalle Capital”) portfolio company Collection Associates, LLC (“CAI”) is pleased to announce the acquisition of Money Recovery Nationwide (“MRN”).
MRN, headquartered in Lansing, Michigan provides debt collection services to the healthcare industry. MRN has been active in the industry dating back to 1988, and is regarded as a premier provider of third-party collections for hospitals and physician groups in the state of Michigan.
MRN is the fourth collection agency purchased by CAI, and represents a significant addition to CAI’s Midwestern focused strategy. “Alan Jacoby and his team have built one of the most important agencies in Michigan. Their broad reach throughout the state increases our geographic footprint substantially and firmly establishes our combined organization as the premier Midwest-based healthcare accounts receivable management business.” stated Rocco Martino, a Partner at LaSalle Capital. Mark Schabel, CEO of CAI added, “MRN will be an outstanding addition to our portfolio of agencies, and we are excited that Alan Jacoby and Gary Ferdig are going to continue on as part of the management team to take the organization to a new level.”
Alan Jacoby stated, “Our acquisition by CAI will allow us to deploy new product offerings and leading technology to best serve our clients in this tough economic environment. I am excited about the business combination and think that this will expand our ability to serve the needs of the Michigan market.”
If you have questions on this Company or would like to discuss other opportunities in the healthcare collections industry, please contact either Rocco Martino or Nick Christopher at LaSalle Capital.