PE-backed eSolutions buys Practice Insight

eSolutions Inc, a portfolio company of Francisco Partners, has acquired Practice Insight, a provider of integrated electronic data interchange and revenue cycle management workflow solutions for healthcare providers. No financial terms were disclosed. Harris Williams advised Practice Insight on the transaction. Practice Insight is backed by Eli Global.


RICHMOND, Va.–(BUSINESS WIRE)–Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Practice Insight, LLC (Practice Insight), a portfolio company of Eli Global, on its sale to eSolutions Inc. (eSolutions), a portfolio company of Francisco Partners. Practice Insight is a leading provider of integrated electronic data interchange (EDI) and revenue cycle management (RCM) workflow solutions for healthcare providers. The transaction was led by Sam Hendler, Dan Linsalata and Mike Quealy of Harris Williams’ Technology, Media & Telecom (TMT) Group.

“We’re thrilled to have had the opportunity to partner with Practice Insight on another successful transaction as the company continues to succeed and achieve its mission of making healthcare more efficient and affordable,” said Sam Hendler, a managing director at Harris Williams. “We’re excited to watch the company’s future as part of the eSolutions platform.”

“We remain impressed with what Practice Insight has been able to accomplish as it innovates in a complex and dynamic healthcare reimbursement ecosystem,” added Dan Linsalata, a director at Harris Williams. “The company continues to enhance its revenue cycle workflow software, expand its payer, provider and reseller relationships and develop new solutions designed to meet the needs of the ever-evolving healthcare industry.”

Practice Insight, founded in 2003, provides proprietary software-as-a-service (SaaS) solutions that streamline clearinghouse and revenue cycle workflows for healthcare providers across all settings. The company’s proprietary platform, EDIinsight, improves the entire healthcare billing process by leveraging robust connections to payers and seamless integration with providers to reduce rejections, speed payments and increase total reimbursement, all while providing patients with increased transparency, convenience and payment flexibility. Practice Insight partners with hundreds of leading healthcare practice management software vendors across North America to deliver the power of its solutions to more than 70,000 healthcare providers in all 50 states. Beyond connecting providers with thousands of commercial and government payers for streamlined claims submission, Practice Insight’s software enables providers to track claims in real-time; scrub and edit claims; automate claim workflows; verify patient eligibility and estimate costs; post patient payments; and improve clearinghouse and revenue cycle management processes with robust reporting and analytics capabilities.

Eli Global, founded in 1991 and based in Durham, North Carolina, is a multi-national conglomerate of independent portfolio companies. The company invests across a diversified range of sectors, including healthcare, technology, insurance and financial services. As a partner to over 130 businesses around the world, Eli Global provides information and financial services to entities that comprise over 9,500 employees.

eSolutions is a healthcare technology company working to strengthen providers’ revenue health so they can focus on what really matters – their patients. The company’s powerful, easy-to-use revenue cycle and workflow management tools, paired with actionable data analysis and insights, improve efficiency, minimize denials and reduce time to revenue for clients. Focused on eligibility, claims, data and analytics, audits and denials, and quality and compliance, eSolutions saves providers time and money in an increasingly complex industry. For more than 20 years, providers of all types, including the nation’s largest post-acute care organizations and health systems, have trusted the company to deliver innovative, dynamic solutions and second-to-none client care. eSolutions is driven by a passion to provide solutions to clients’ tough challenges and to care for clients the way they care for their patients.

Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch over 19 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 200 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

Harris Williams’ TMT Group advises leading private and public companies, entrepreneurs, private equity firms and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the Software/SaaS and Internet & Digital Media segments, with particular emphasis on specific verticals including education technology, data analytics, energy technology, fintech, public sector, and supply chain/logistics—with a dedicated healthcare technology (HCIT) practice. Across verticals, the firm also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group’s section of the Harris Williams website.