10 Jun 2016
BOLDER HEALTHCARE SOLUTIONS ACQUIRES PROSPECTIVE PAYMENT SPECIALISTS, INC.
March 22, 2016
NewCap Partners closes another successful transaction representing Prospective Payment Specialists, Inc (“PPS”) in their sale to Bolder Healthcare Solutions (“BHS”).
BHS one of the fastest growing providers of revenue cycle management (RCM) to the healthcare market is pleased to announce that it has recently acquired PPS a compliance oriented hospital consulting firm with deep experience in the highly specialized medical coding and Chargemaster niche.
PPS will continue to be led by its founder, Jay Janov who will service as its President. PPS will operate as a division within the ROI platform which was acquired by BHS in June of 2015.
CEO of ROI, Chris Wunder, commented, “We are extremely excited about the synergies created by the addition of PPS on the heels of our acquisition of ACE Coding last month. The combined companies add tremendous knowledge and management depth to our coding and Chargemaster service offering.”
PPS provides compliance-based coding and revenue cycle management solutions to the largest hospital systems, regional medical centers, and critical care access hospitals in the country. For over 25 years PPS has improved the billing compliance, revenue and cash flow for more than 3,500 hospital engagements and provided over 4,000 Chargemaster reviews.
CEO of Bolder Healthcare Solutions, Michael Shea, stated, “We are delighted to have Jay and his team at PPS join our growing platform of RCM specialist companies. PPS shares Bolder’s performance-first vision by having a laser focus on their specific area of expertise, they strive every day to offer best in class services to their clients and to the healthcare market.”
President and Founder of PPS, Jay Janov, commented, “We are very pleased to be part of the Bolder Healthcare Solutions family. Bolder brings significant management experience, infrastructure, sales experience and resources to help PPS grow at a faster pace while maintaining the quality for which we are known.”
About Bolder Healthcare Solutions
Bolder Healthcare Solutions (BHS) offers a growing suite of best of breed healthcare revenue cycle management services to the Hospital and Physician marketplace. BHS was formed through a co-investment partnership between The Edgewater Funds and JZ Capital Partners in coordination with Michael Shea, CEO. The partnership brings more than $2 billion in committed capital and experience from hundreds of private equity transactions over the last 35 years. Shea and his team are selectively targeting additional acquisition candidates in the RCM sector. BHS currently has over 2000 employees serving over 600 clients across the U.S.