Quick Med Claims, a provider of technology-enabled revenue cycle management services for the emergency medical transport industry, has raised an undisclosed amount of funding. The investor was PWP Growth Equity, Perella Weinberg Partners‘ middle-market private equity group.
New York, NY (November 12, 2018) – PWP Growth Equity, the middle market private equity group of Perella Weinberg Partners, today announced that it has made an investment in Quick Med Claims (“QMC”), a leading provider of technology-enabled revenue cycle management (“RCM”) services to the emergency medical transport (“EMS”) industry. The investment will enable QMC to continue to invest in people and systems, and enter new markets organically and through acquisition.
Terms of the transaction were not disclosed.
Headquartered in Pittsburgh, Pennsylvania, QMC is a fully outsourced RCM solution covering the entire claim cycle with unique, dual expertise in air and ground emergency transport services. Founded in 1992, QMC is led by Co-Founder and CEO Michael Lewis, who has helped build the company into the partner of choice for EMS providers. QMC’s services and solutions platform maximizes reimbursement, cash collection and timing, and ensures compliance for its diverse EMS-focused customer base. QMC currently operates in 38 states and will process over one million EMS claims in 2018.
Henry Heinerscheid, a Managing Director of PWP Growth Equity, commented, “We are thrilled to invest in QMC and help the company build on its position as a leader in the rapidly growing EMS RCM market. The investment reflects our confidence in Michael and the QMC team, and the company’s strategic direction and ability to capitalize on exciting growth opportunities. We look forward to working alongside management as they continue to deliver high quality services that allow clients to focus on their core EMS business.”
“I am extremely excited for this new chapter in QMC’s history. This partnership will allow us to further invest in our team and our operations to accelerate growth,” said Lewis. “We look forward to working with PWP Growth Equity and benefiting from their significant experience helping companies execute their growth strategies while maintaining their primary mission – in our case providing excellent and reliable results for our EMS clients.”
As a part of the investment, Mr. Heinerscheid, Chip Baird (Partner and Co-Founder of PWP Growth Equity), and David Ferguson (Partner and Co-Founder of PWP Growth Equity) have been named to the Board of Directors.
About PWP Growth Equity
PWP Growth Equity is the middle market private equity group of Perella Weinberg Partners, managed by Chip Baird and David Ferguson. PWP Growth Equity manages private equity funds with aggregate commitments of $1.35 billion focused on growth-oriented, lower middle market companies, primarily in the United States, across the consumer, services, and industrial sectors. PWP Growth Equity seeks to partner with existing owners and management teams, providing both capital and experience in a tailored and flexible structure, to support the growth plans and vision for value creation. PWP Growth Equity investments include: SkinSpirit, The RealReal, 360training, Delphon Industries, Luna Grill, Hyphen Solutions, Black Bear Diner, MSA Security, MOD Pizza, and YouFit Health Clubs. For more information on PWP Growth Equity, please visit: http://www.pwpgrowthequity.com.