Centauri Health Solutions has acquired the assets of HCFS, a Texas-based provider of self-pay management solutions. No financial terms were disclosed. Centauri is backed by Abry Partners, Silversmith Capital Partners and SV Health Investors.
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Centauri Health Solutions (“Centauri” or the “Company”), an innovative healthcare technology and services company, announced today that it has acquired all key assets of HCFS, Inc. (“HCFS”), a Texas-based provider of self-pay management solutions. HCFS enables Centauri to further extend its market leadership in hospital revenue cycle optimization services.
Since 1986, HCFS has specialized in revenue cycle solutions for hospitals and health systems, using advanced technology and an emphasis on patient advocacy to increase process efficiencies and maximize revenue for clients.
“In this time of industry challenge and uncertainty, I’m confident this union with one of nation’s growing leaders in hospital revenue management solutions will enable HCFS clients to receive the level of excellent, compassionate service they are accustomed to, while also providing them with access to a new portfolio of industry leading products and services,” said Julie Faling, HCFS Chief Executive Officer.
This deal comes on the heels of the recent acquisition of AppRev, a healthcare revenue cycle analytics company, and the December 2019 acquisition of IHMS, a hospital revenue cycle management services provider. As with those acquisitions, the additional resources of HCFS further extend Centauri’s revenue cycle management footprint and leadership.
“This acquisition expands our presence in the midwestern and western states, and adds another group of long-tenured, experienced associates to Centauri. The combination will allow Centauri to provide enhanced revenue cycle services to the clients of both companies. My goal in launching and strategically growing Centauri is always to provide what’s missing in the marketplace. This deal strengthens the solutions and services available to clients and patients,” said Centauri CEO and co-founder Adam Miller.
As of today, HCFS will be known as Centauri Health Solutions. The transaction was supported by Centauri’s investors, Abry Partners, Silversmith Capital Partners and SV Health Investors. Weiss Brown LLP acted as legal counsel to Centauri and Shields Legal Group acted as legal counsel to HCFS.
About Centauri Health Solutions
Centauri Health Solutions provides services to payors and providers in government sponsored healthcare programs, including Medicare Advantage and Medicaid. In partnership with our clients, we improve the lives and health outcomes of the members and patients we touch through compassionate outreach, sophisticated analytics, and data-driven solutions. Our services directly address complex problems such as uncompensated care within health systems; appropriate, risk-adjusted revenue for specialized sub-populations; and quality of care measurement. Headquartered in Scottsdale, Ariz., Centauri Health Solutions employs nearly 1,500 dedicated associates across the country. Centauri has ranked in the Top 500 on Inc. Magazine’s 2019 and 2020 Inc. 5000 lists of the fastest-growing private companies in the U.S. For more information, visit www.centaurihs.com.
About Abry Partners
Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since their founding in 1989, the firm has completed over $82.0 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across their active funds. For more information on Abry, please visit www.abry.com.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $1.1 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Centauri Health Solutions, Digital Map Products, DistroKid, Impact, LifeStance Health, MediQuant, Panalgo, Validity, and Webflow. The partners have over 75 years of collective investing experience and have served on the boards of numerous successful growth companies including Ability Network, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Wrike.
For more information about Silversmith, please visit www.silversmithcapital.com.
About SV Health Investors
SV Health Investors is a leading healthcare fund manager investing in tomorrow’s healthcare breakthroughs. SV invests across stages, geographic regions and sectors, with expertise spanning healthcare services / technology, medical products, biotechnology, dementia and public equities. With approximately $2.2B in assets under management and offices in Boston and London, SV has built an extensive network of investment professionals and experienced industry veterans. Since its founding in 1993, SV has invested in more than 175 companies, with more than 75 of these having achieved successful acquisitions or IPOs. For more information, please visit www.svhealthinvestors.com.