Veritas completes merger of RCM firms Coronis and MiraMed

• MiraMed’s founder and CEO Tony Mira will serve as vice chairman of the board of directors
• Lincoln International LLC and TripleTree LLC served as financial advisors to Veritas while Guggenheim Securities LLC served as lead financial advisor to Coronis
• Veritas invests in companies that provide critical products, software, and services

Veritas Capital has closed the merger of two complementary revenue cycle management businesses Coronis Health and MiraMed Global Services. No financial terms were disclosed.

The combination creates a scaled RCM platform providing end-to-end technology-enabled solutions to a diverse set of healthcare providers across the U.S. The combined company will be led by Coronis CEO Stephen Grubbs. MiraMed’s founder and CEO Tony Mira will serve as vice chairman of the board of directors.

Veritas has a proven track record of driving growth for companies within the healthcare technology market. The firm brings a culture of intense customer focus and accelerating growth through investment in R&D and product innovation.

Founded in 2015, Coronis is a leading provider of end-to-end RCM solutions to U.S. healthcare providers. Veritas acquired Coronis from 424 Capital and other minority shareholders.

Founded by Tony and Sue Mira in 1979, MiraMed is a provider of end-to-end RCM and business process outsourcing services for anesthesia practices and commercial healthcare clients in the U.S. Veritas acquired MiraMed from the Mira family, who will retain an ownership position in the combined company.

Ramzi Musallam, CEO and managing partner of Veritas Capital, said in a statement, “This combination brings together two highly complementary businesses with a shared mission to improve operations for healthcare providers across the U.S. Coronis’ end-to-end RCM solutions paired with MiraMed’s expertise and global infrastructure creates a robust platform for growth in a highly fragmented market. We look forward to leveraging our expertise in healthcare technology to support the combined company and, in partnership with management, deliver innovative technology-based solutions to ensure the continued success of the company’s healthcare provider clients.”

Latham & Watkins LLP served as legal counsel to Veritas. Lincoln International LLC and TripleTree LLC served as financial advisors to Veritas. Guggenheim Securities LLC served as lead financial advisor and Whiteman Osterman & Hanna LLP served as legal counsel to Coronis. Gibson, Dunn & Crutcher LLP served as legal counsel to MiraMed.

Veritas invests in companies that provide critical products, software, and services.