Revenue Cycle Solutions (RCS), which sells revenue cycle management software and services to hospitals, is announcing that it has moved its headquarters from Chicago to Downers Grove, Illinois, 20 miles west of the Windy City. RCS is a portfolio company of the Chicago-based middle market private equity firm Waud Capital Partners, which acquired it last year for an undisclosed amount.
Revenue Cycle Solutions, Inc. (“RCS” or the “Company”), a leading provider of account resolution services to hospitals and hospital-based physician groups throughout the United States, has announced its move to new corporate headquarters located in Downers Grove, Illinois, twenty miles west of Chicago. The new center combines expanded customer service workstations and an advanced technological infrastructure, enabling the Company to continue to provide its clients with a high level of customer service and attention. The headquarters will also allow RCS to upgrade its focus on operations while simultaneously providing the Company with significant capacity to accommodate its growth strategy. RCS is a portfolio company of Chicago-based private equity firm Waud Capital Partners, which acquired the Company in May 2011.
“Our plans for continuous growth and expanded client revenue cycle services make this the right time to invest in a new facility for our workforce,” said Mike Jacoutot, Chief Executive Officer. “Our new center allows us to add personnel, ensures an atmosphere of teamwork and enables us to continue to provide the excellent level of customer service our clients have come to expect.”
“The ability to share knowledge and best practices through collaboration is extremely important to any service-based business,” added Mary Ann McLaughlin, Chief Operating Officer. “Our new state-of-the art Learning Center will enable us to share knowledge effectively, resulting in improved revenue and patient satisfaction outcomes for our clients.”
RCS presently employs approximately 150 employees in the new Downers Grove, Illinois facility and approximately 250 employees nationally.
About Revenue Cycle Solutions
Established in 2002 and headquartered in suburban Chicago, RCS partners with over 100 hospitals across the country and provides a wide range of account resolution services, including early out self-pay, third-party insurance and bad debt recovery. Through a patient-centric approach, the Company assists its clients with accelerating cash flow, increasing profitability and driving operational efficiencies in the revenue cycle.
For additional information on RCS, visit www.revcs.com.
About Waud Capital Partners
WCP is a leading middle market private equity investment firm founded in 1993 that partners with exceptional management teams to invest in growth equity investments, industry consolidations, buyouts and recapitalizations. The firm seeks to invest $20 to $100 million in private companies in the following four areas: healthcare services, business and consumer services, specialty distribution and select industrial businesses. Typically, the companies in which WCP invests have enterprise values between $30 and $300 million.
For additional information on WCP, visit the firm’s website at www.waudcapital.com.