GTCR-backed RevSpring buys Loyale Healthcare

RevSpring, a portfolio company of GTCR, has acquired Loyale Healthcare, a provider of a patient financial engagement software platform.

RevSpring, a portfolio company of GTCR, has acquired Loyale Healthcare, a provider of a patient financial engagement software platform. No financial terms were disclosed. Ziegler was financial advisor on the sale.


Ziegler, a specialty investment bank, is pleased to announce it served as sole financial advisor in the sale of Loyale Healthcare (Loyale) to RevSpring, a portfolio company of GTCR. Loyale is a next-generation patient financial engagement software platform delivering comprehensive enterprise payment solutions to leading health systems and ambulatory providers.

With this acquisition, RevSpring further augments its leading digital communications and payments capabilities with Loyale’s suite of products. The combined companies will facilitate approximately $5.5 billion in payments collected through their systems on behalf of their clients.

Scott MacKenzie, CEO of RevSpring, commented, “Loyale has built an impressive solution for their customers, differentiated by their commitment to delivering exceptional patient payment experiences that accelerate payments as they build loyalty. We are excited to combine forces with the Loyale team and look forward to working side by side with them to deliver the great service and solutions that their clients, and their patients, have come to rely on.”

Remarking on the transformative potential of the partnership, Loyale CEO Kevin Fleming commented, “We have admired RevSpring’s leadership and momentum in the healthcare business solutions and payments market, and share common values and perspectives on how to improve patient experience along with healthcare provider’s financial performance. Loyale is excited to accelerate our mission of innovation in patient financial engagement with a dynamic partner in RevSpring at our side, and we thank Ziegler for providing valuable strategic and financial advice throughout the sale process.”

Health Insight Capital, a subsidiary of HCA Healthcare, was an investor in Loyale prior to the acquisition. HCA Healthcare is a customer of both RevSpring and Loyale, with Loyale’s solutions deployed throughout its hospitals and employed physician clinics.
Mark Turco, Director with Ziegler’s Healthcare Corporate Finance practice, commented, “With patient financial responsibility on the rise, providers are seeking a seamless financial experience for their patients. Loyale’s technology helps redefine the patient financial experience, driving significant client ROI across revenue, cost and patient satisfaction perspectives. We are thrilled to have represented Loyale in this transaction.”

Ziegler’s Corporate Finance team is focused on delivering best-in-class advisory and financing solutions for companies and organizations across the healthcare industry. In our core practice areas of healthcare services, information technology, hospitals and senior living, Ziegler is one of the most active M&A firms offering innovative sell-side, buy-side, recapitalization/restructuring, equity private placement and strategic partnering services.

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About Ziegler:
Ziegler is a privately held, national boutique investment bank, capital markets and proprietary investments firm. It has a unique focus on healthcare, senior living and education sectors, as well as general municipal and structured finance. Headquartered in Chicago with regional and branch offices throughout the U.S., Ziegler provides its clients with capital raising, strategic advisory services, fixed income sales, underwriting and trading as well as Ziegler Credit, Surveillance and Analytics. To learn more, visit