Med-Metrix, LLC, a leading provider of technology-enabled, Revenue Cycle Management solutions that is backed by A&M Capital Partners (“AMCP”), announced it has acquired Healthcare Receivable Specialists, Inc. HRSI is a specialized RCM and patient access company providing a comprehensive suite of technology-enabled eligibility management services. This acquisition further enhances Med-Metrix’s end-to-end RCM offerings with HRSI’s best-in-class Medicaid Eligibility services. Financial terms of the transaction were not disclosed.
For the past 25 years, HRSI has supported health systems throughout the Mid-Atlantic region of the U.S. HRSI is committed to patient advocacy and strives to maximize reimbursement to its health system clients by leveraging technology-enabled solutions. HRSI’s eligibility services encompass Medicaid and various federal, state, and local programs, such as Social Security and Disability (SSI / SSDI) and Children’s Health Insurance Program (CHIP). HRSI will continue to serve its customers across a diversified mix of healthcare providers. HRSI is based in the greater Philadelphia, PA area.
“HRSI has earned an outstanding reputation as a leading Eligibility Management platform, leveraging decades of domain expertise. We are excited to partner with Chad Wallace and his leadership team to bring their capabilities to the healthcare market throughout the U.S. This transaction unites two closely aligned corporate cultures, united in our mission to deliver exceptional performance for our clients,” said Joseph Davi, Founder and CEO of Med-Metrix.
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“Reflecting on HRSI’s growth over the past few decades, we are immensely proud of the outcomes our team has delivered for our customers. We look forward to building on this momentum in partnership with Med-Metrix, particularly in the Medicaid Eligibility market,” said Linda Wallace, CEO and President and Chad Wallace, Executive Vice President of HRSI.
“The acquisition of HRSI underscores and further accelerates Med-Metrix’s end-to-end focused RCM growth strategy. AMCP looks forward to supporting Med-Metrix’s high growth trajectory, including additional strategic M&A opportunities,” said Rob Haisch, a Partner of AMCP.
Med-Metrix is a leading technology-enabled services platform providing RCM and Business Intelligence (“BI”) solutions for health systems and physician groups across the United States. Med-Metrix provides end-to-end as well as point solution RCM and BI services via the Company’s proprietary software platform.
A&M Capital Partners (“AMCP”) is Alvarez & Marsal Capital’s flagship investment strategy focused on middle-market control transactions in North America with total commitments under management of approximately $4.0 billion. AMCP partners with founders, corporates and management teams, providing the capital and strategic assistance that we believe is required to take businesses to the next level of success. More broadly, Alvarez & Marsal Capital is a multi-strategy private equity investment firm with over $5.9 billion in total commitments under management across funds and managed accounts, which maintains a strategic association with Alvarez & Marsal, one of the largest operationally focused advisory firms in the world.
SOURCE: PRNewswire