Well being Prime secures majority funding from Aquiline
New York-based US non-public fairness agency Aquiline Capital Companions has made a “majority funding” in Well being Prime Worldwide, a supplier of Income Cycle Administration (RCM) options for doctor practices.
This funding is predicted to strengthen Well being Prime's development trajectory whereas enabling the corporate to develop its capabilities and companies.
Aquiline Capital, which primarily makes strategic investments in healthcare, monetary companies and associated applied sciences, has greater than $10 billion in property below administration as of September 30, 2023.
No monetary particulars got in regards to the newest transaction.
Based in 2004, Well being Prime has a presence within the US, India, Costa Rica and the Philippines.
The corporate, primarily based in Nationwide Harbor, Maryland, has greater than 3,500 workers. It serves greater than 800 doctor teams in 50 specialties and gives a spread of personalized RCM options.
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Well being Prime additionally gives complete end-to-end companies by means of a multi-shore supply mannequin, together with a number of proprietary expertise suites, together with Prime Datalytics and workflow automation purposes Prime Hyperlink and Prime Movement.
Prime Movement and Datalytics applied sciences, appropriate with nearly all digital well being information (EMRs), ship insights for healthcare practices.
Pranil Vadgama, CEO of Well being Prime, mentioned: “We’re excited to proceed our development trajectory with the assist of Aquiline. Their deep community and expertise in healthcare expertise shall be invaluable as we work collectively to realize our long-term targets.
“This funding is not only a change in sponsorship, however a strategic transfer to speed up Well being Prime's development and companies.”
For this transaction, Guggenheim acted because the lead monetary advisor to Aquiline, with extra advisory assist from Lincoln and Rothschild. Ropes & Grey was Aquiline's authorized advisor for the deal.
The deal was supported by unitranche debt financing from AB Personal Credit score Traders.
In the meantime, TripleTree served as Well being Prime's monetary advisor on the transaction.
Aquiline associate Benedict Baerst mentioned: “Well being Prime's distinctive technology-based supply mannequin has persistently delivered profitable outcomes for its prospects. We sit up for working with Pranil and the Well being Prime administration group to execute our collective imaginative and prescient for the corporate.”
