Louisville, Ky.-based Bolder Healthcare Solutions, the parent company of various healthcare exclusive revenue cycle solution organizations, has acquired Corinth, Miss.-based Avectus Healthcare Solutions, a leader in coordination of third-party liability accounts and resolution of complex workers' compensation accounts for hospitals and trauma centers.
Here are three things to know about the transaction.
1. Tim Smith, founder and CEO of Avectus, said in a news release Bolder will bring Avectus great resources and market experience as it continues building its highly specialized services over the coming years.
2. Michael Shea, CEO of Bolder, was also pleased with the transaction. He said Bolder is "committed to bringing together the best of breed companies, people, services and technologies across the healthcare revenue cycle," and "believe[s] this combination will be great for clients, Avectus employees and the town of Corinth."
3. Both companies bring offerings to the table. Currently, Avectus provides hospitals a comprehensive solution for third-party liability accounts. The company's management team specializes in third-party liability claim resolution. Bolder, which was formed though a co-investment partnership between The Edgewater Funds and JZ Capital Partners in coordination with Mr. Shea, offers a growing suite of healthcare revenue cycle management services to the hospital and physician marketplace.