Bolder Healthcare Solutions, which is backed by The Edgewater Funds and JZ Capital Partners, has acquired The ROI Companies. No financial terms were disclosed. ROI is a provider of healthcare revenue cycle management solutions.
LOUISVILLE, Ky., June 25, 2015 /PRNewswire/ — Bolder Healthcare Solutions (“BHS”) is pleased to announce that it has recently acquired The ROI Companies (“ROI” or the “Company”), a leading provider of healthcare revenue cycle management (“RCM”) services. ROI will continue to be led by its founder and CEO Chris Wunder and the Company’s experienced management team. In partnership with BHS, ROI will pursue accelerated growth through national expansion of its services and acquisitions.
ROI provides critical services to hospitals and physician groups including insurance billing and follow-up, self-pay billing, coding, eligibility, consulting, cash acceleration and collections. The Company is headquartered near Baltimore, MD with offices in the Boston, Cleveland, Philadelphia and Washington, DC markets.
Chris Wunder, CEO of ROI, commented, “The ROI team is very pleased to become part of Bolder Healthcare Solutions. We believe the access to substantial capital and opportunity to partner with Bolder Healthcare’s other outstanding RCM companies will support our rapid growth plans in the years ahead. We’re believers in Bolder Healthcare’s vision and commitment to providing the highest quality RCM services to our clients.”
Michael Shea, CEO of Bolder Healthcare Solutions, noted, “ROI is an outstanding platform from which to achieve our goal of building a leading national provider of a full suite of RCM services. We are excited to have Chris and the ROI team join us as important members of the BHS family.”
ROI is the second acquisition announced by Bolder Healthcare Solutions this month. Recently BHS announced the acquisition of Avectus Healthcare Solutions, a leader in coordination of third party liability accounts and resolution of complex workers’ compensation accounts for hospitals and trauma centers. With the addition of Avectus and ROI, BHS now has over 1,500 employees in the US and India serving over 500 clients across 47 states. BHS operates from 14 locations including two wholly-owned service centers in Kolkata and Hyderabad, India.
About Bolder Healthcare Solutions
Bolder Healthcare Solutions offers a growing suite of best of breed healthcare revenue cycle management services to the Hospital and Physician marketplace. Bolder Healthcare Solutions was formed though 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.