Nautic Partners Recaps Healthcare Payment Specialists

Nautic Partners has sponsored a recapitalization of Healthcare Payment Specialists LLC, a Ft. Worth, Texas-based provider of healthcare payment and reimbursement solutions. No financial terms were disclosed for the deal, which was done in partnership with company management.


Nautic Partners, LLC, a private equity firm with more than $2.5 billion of capital under management, today announced that it has completed a recapitalization of Healthcare Payment Specialists, LLC (“HPS”) in partnership with management. HPS is a provider of payment and reimbursement solutions to hospitals and other healthcare systems.

Founded in 2002 and based in Fort Worth, TX, HPS is recognized as a leader in complex Medicare and Medicaid reimbursement and billing issues having served over 2,000 hospitals and healthcare systems in all 50 states. The Company leverages proprietary technology to deliver services in a highly efficient manner allowing its clients to maximize reimbursement dollars with minimal disruption. Through deep technical reimbursement expertise and data mining analytics, HPS helps its clients increase revenues and billing efficiency.

“HPS is an emerging market leader known for its innovative product development and highly differentiated customer and operational approach,” said Scott Hilinski, Managing Director at Nautic Partners. “Nautic was attracted to HPS’s clear value proposition to healthcare providers and its impressive growth profile. In today’s environment of increasing reimbursement complexity and shortage of internal provider resources, there is robust demand for the revenue and billing cycle maximization services that HPS provides. HPS is seeing considerable growth opportunities within its existing hospital client base, through penetration of new hospitals and other provider communities, and also through acquisitions.”

HPS’s Chief Executive Officer Peter Jarvis said, “The HPS management team is extremely excited to partner with Nautic. Nautic shares our vision for HPS and they have the industry expertise and resources to assist us in achieving our strategic objectives.”

Scott Hilinski and Christopher Corey from Nautic will join the HPS Board along with David Harrington, one of Nautic’s Operating Advisors. HPS is Nautic Partners’ fifth investment from its most recent fund, Nautic Partners VI, LP. Nautic has a successful history of transactions in the healthcare services industry, including recent exits from investments in American Imaging Management and Axia Health Management.

About Healthcare Payment Specialists

Healthcare Payment Specialists (“HPS”) is a provider of payment and reimbursement solutions to hospitals and other healthcare systems. Based in Fort Worth, TX, HPS leverages technology to capture leakage in its clients’ revenue and billing cycles. Having served clients in all 50 states, HPS is recognized as a leader in complex government reimbursement and billing issues including Medicare Reimbursable Bad Debts, Medicare Disproportionate Share Hospital, Transfer Diagnostic Related Groups and Direct Graduate Medical Education and Indirect Medical Education. For more information visit

About Nautic Partners

Founded in 1986, Nautic Partners is a middle-market private equity firm with over $2.5 billion of equity capital under management. The firm has completed over 100 transactions in partnership with management and delivered successful results to investors for over three decades. Nautic targets equity investments of $25-75 million, representing majority ownership in companies with proven business models, defensible market positions, and strong growth potential. Areas of focus include business services, manufacturing, healthcare and communications. Nautic is currently investing its most recent fund, Nautic Partners VI, a $780 million fund which closed in June 2008. For more information visit