PE-backed ImagineSoftware buys ProviderAlly

ImagineSoftware, a portfolio company of Mountaingate Capital, has acquired ProviderAlly, a provider of accounting reconciliation services and related capabilities to the healthcare RCM space. No financial terms were disclosed.

PRESS RELEASE

DENVER–(BUSINESS WIRE)–Leading Revenue Cycle Management SaaS Platform ImagineSoftware announced today the acquisition of ProviderAlly, a provider of accounting reconciliation services and related capabilities to the healthcare RCM space. The addition of ProviderAlly adds a powerful technology to ImagineSoftware’s strong existing service offering and will further help clients optimize billing and collections workstreams. The transaction marks ImagineSoftware’s first acquisition since partnering with Mountaingate Capital in April 2018.

ProviderAlly provides a compelling and comprehensive financial data picture to the healthcare industry, bridging the divide between banking and practice management systems and allowing clients to understand payments in their organization while validating every dollar to the deposited funds.

ImagineSoftware’s mission is to provide industry-leading billing automation software and revenue cycle management applications. With ProviderAlly joining the platform, the combined entity can offer its suite of products and services to an expansive list of clients. Both companies take pride in being at the forefront of industry innovation to help clients improve financial efficiency.

“The acquisition of ProviderAlly is consistent with Imagine’s customer-centric strategy and will enable even better RCM solutions for all clients,” said Stew Fisher, Managing Director of Mountaingate. “We are extremely bullish on the prospects of our combined capabilities going forward.”

ImagineSoftware
ImagineSoftware is the leading provider of billing automation software and revenue cycle management applications. Offering powerful technology solutions for medical billing offices, practices, and hospitals, Imagine Software currently serves more than 46,000 physicians. ImagineSoftware solutions improve financial efficiency, build provider reputation, and ultimately improve patient experience. For more information, visit www.imagineteam.com and follow us on Twitter @ImagineTeam.

Mountaingate Capital
Mountaingate Capital is a private equity firm based in Denver that specializes in building and empowering companies with strong growth potential and engaged leadership teams. Mountaingate’s focus on organic growth coupled with its proven customer-centric buy-and-build approach for add-on acquisitions and shared equity ownership with management creates more value for the end customer, while forging stronger, more collaborative, and more successful investment partnerships with management teams.

Mountaingate announced the close of its first fund in 2017 with $395 million in capital commitments. Mountaingate targets investments in new platform companies typically with $5 million to $25 million of EBITDA. For more information on Mountaingate, please visit http://mountaingate.com.