Elevate Patient Financial Solutions, a provider of revenue cycle management (RCM) technology and services, has secured a strategic investment from two major private equity firms: Audax Private Equity and Parthenon Capital.
This investment will provide Elevate with the capital and resources needed to fuel its growth, enhance its offerings, and pursue future acquisitions. The company specializes in front-end eligibility and enrollment as well as back-end complex claims and revenue integrity solutions.
With this new support, Elevate plans to strengthen its existing RCM technologies and services while developing new solutions to help hospitals and health systems improve their operational performance.
KEY QUOTES:
“We are thrilled to partner with the Audax and Parthenon teams as we move into this next chapter in Elevate’s evolution. Both firms bring deep experience in building healthcare businesses, and we are excited by the alignment in the go-forward strategic vision for Elevate. We look forward to pursuing innovative ways to deliver more value-added capabilities and support our clients as they navigate an ever-changing market environment.”
Mike Shea, Elevate’s CEO
“Elevate has established itself as an industry-leader in front-end eligibility and enrollment with a growing presence in back-end revenue cycle management solutions, serving some of the largest hospitals and health systems across the country. We believe the Company is well-positioned to continue to deliver a strong front-end and back-end value proposition to clients, while continuing to expand in other high-value RCM services and technology that can deliver tangible value to its hospital and health system clients.”
Adam Abramson, a Partner at Audax
“We are entering a critical time for hospitals and health systems as they look to navigate significant regulatory changes that will impact the coverage of patients across the country. Elevate is a strategic partner to its provider clients and we are excited to support the Company as it continues to pursue its mission of ensuring hospitals and health systems are able to provide care to those patient populations who need it most.”
Dan Killeen, a Partner at Parthenon
