Riverside Partners, a Boston-based private equity firm, has acquired Franklin, Tenn.-based Medical Reimbursement of America, a provider of specialty reimbursement solutions.
Here are four things to know.
1. MRA aims to help healthcare providers resolve complex motor vehicle and workers' compensation accident claims, according to a news release. Additionally, the company provides underpayment identification and recovery services through its Ft. Lauderdale, Fla.-based payment integrity division.
2. Along with the transaction, Bobby Rolfe, MRA's CEO for the past four years, and MRA President Lyle Beasley will remain involved with the company and continue their investment in MRA, the release states. Mr. Rolfe will serve as a consultant to MRA and Mr. Beasley will continue serving as a company board member.
3. Julie Klapstein, a member of Riverside Partners' healthcare advisory board and founding CEO of healthcare technology services company Availity, will serve as CEO of MRA.
4. "I could not be more excited about the future of MRA as a result of this investment by Riverside Partners," Mr. Rolfe said in the release. "Our team's customer-first attitude is the cornerstone of our success, and Riverside Partners' philosophy of empowering and supporting successful teams will enable each of our employees to continue their passion for serving our hospital customers."