MDaudit – a provider of billing, coding compliance, and revenue integrity software for health systems, hospitals, and provider groups – announced a strategic growth investment from Bregal Sagemount and Primus Capital. The terms of the deal were undisclosed.
MDaudit, based in Waltham, MA, specializes in delivering high-quality, customer-centric, and innovative software solutions to provide continuous risk monitoring in the healthcare provider revenue cycle. The company offers a comprehensive SaaS platform encompassing billing, coding compliance, and revenue integrity capabilities that serves 700K+ providers across 2,500+ facilities with an Aggregate Net Patient Revenue of $225+ billion in the U.S.
With a focus on customer satisfaction and a commitment to excellence, MDaudit has built a reputation for providing tailored solutions that meet the unique needs of its clients.
MDaudit and Primus were advised by TripleTree and Goodwin Procter. Sagemount was advised by Goodwin Procter.
KEY QUOTES:
“We are incredibly excited to welcome Sagemount as our newest strategic partner and believe that their healthcare IT investment experience and Growth Factors resources will be invaluable in helping us further accelerate our growth and continue our market leadership to provide continuous risk monitoring capabilities to the healthcare industry. We are also humbled that Primus, our current investor, has also made a significant go-forward commitment to support our next phase of growth. With Sagemount and Primus’ support, I am confident that MDaudit is well-positioned to continue its legacy of excellence and innovation in the healthcare industry and will continue to achieve new heights.”
– Ritesh Ramesh, CEO of MDaudit
“At Sagemount, we have a long history of identifying and investing in healthcare IT and revenue cycle management (“RCM”) solutions providers and targeted MDaudit as a category leader for their risk monitoring and revenue integrity software solutions. We believe that the company is in the early phases of its innovation curve based on its unique data moat and tailored workflows for critical RCM processes, and we look forward to working closely with the MDaudit and Primus teams to help drive continued growth and new product development.”
– Phil Yates, Founding Partner at Sagemount
“As the operating environment and revenue cycle processes for healthcare providers become more complex, MDaudit is well-positioned to address key provider pain points through its unique data benchmarking and workflow automation capabilities.”
– Harrison Brunelli, Vice President at Sagemount
“We have been thoroughly impressed by the trajectory MDaudit has driven since we first partnered with the company, and today’s announcement underscores the success this exceptional team has achieved. We are thrilled to welcome Sagemount as a new partner and to continue to partner with Ritesh and the management team to build upon their track record of innovation and growth serving the healthcare industry.”
– Phil Molner, Managing Partner at Primus
