Revenue cycle management platform Collect Rx has been acquired by private equity firm New Capital Partners.
Maryland-based Collect Rx is a business intelligence system to analyse claims and increase reimbursement for healthcare providers. Its platform is used by surgery centres, hospitals, physician-owned practices, laboratory diagnostic facilities and behavioural health centres.
The company offers payor-side incentive information, billing and auditing tools, comparable data, security defence, and automation solutions for recovery rates.
Collect Rx CEO John Bartos said, “We are thrilled to partner with and join the New Capital Partners’ portfolio. It is great to work with a firm that has extensive healthcare experience. NCP will be able to help us broaden our customer base, enhance our service lines, and help us grow our team.”
Berkery Noyes acted as the financial advisor to Collect Rx, while Oxford Finance served as the sole lender and lead arranger for the deal.
This is the second FinTech investment New Capital Partners have made this year. Previously, the firm supported its portfolio company LoyaltyExpress with its acquisition of Lending Manage, a corporate and loan officer website developer.
LoyaltyExpress is a CRM and marketing automation solution that combines lead management, email and direct mail campaigns while also offering a full view of each loan officer’s customers.
There have been a handful of FinTechs operating in the healthcare sector to receive funding this week. The biggest of these deals was payment accuracy and analytics solutions Cotiviti Holdings making a $4.9bn acquisition of healthcare solution developer Verscend Technologies.
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