Parthenon Capital looks ready to sell Intermedix Corp., a provider of billing and other business process solutions to emergency services providers. An FTC alert suggests that the buyer would be fellow buyout firm THL Partners, although no pricing details were disclosed.
Such FTC reports typically mean that the buyer and seller have an agreement in principle, but not necessarily a binding deal. They also can include transactions for just a percentage of the seller’s total holdings.
Anyway, back to Intermedix. Parthenon originally got involved in late 2005, by acquiring a company called Medical Consultants Inc. A few months later, Medical Consultants merged with fellow medical billing company Advanced Data Processing. Parthenon retained ownership control, while ADP management ran operations.
Simultaneous with the merger, the combined company acquired Intermedix, which provided billing services to emergency medical service providers in Texas. The overall company formally changed its name in 2008, and since has expanded its clientele beyond medical service providers. For example, its Revenue Rescue unit works with the fire response market.
No comment yet from Parthenon or THL Partners…