We represented Triage Consulting Group, a healthcare revenue integrity company in its acquisition by Revint Solutions, a leader in technology-enabled revenue integrity solutions for healthcare providers. Facilitated by New Mountain Capital LLC, a growth-oriented investment firm that currently manages over $25 billion in assets, the combined organization, Cloudmed, will deliver a comprehensive revenue integrity services and technology platform in the healthcare industry. Terms of the transaction were not disclosed.
The deal team was led by Ryan Thomas, Chair of the Private Equity Team and Co-Chair of Heathcare Private Equity, and included corporate attorneys Taylor Ashley, Bo Cook, Patrick Huston, Whitney Robinson and Brian Wilke. Firm attorneys Nesrin Tift and Jeanne Marie Evans counseled on healthcare regulatory matters; Curtis Fisher and Brett Good advised on employee benefits matters; Chelsea Harrison counseled on intellectual property issues; Bryan Metcalf advised on tax matters; Lucas Smith advised on antitrust matters; Nathaniel Greene counseled the client through real estate issues; and Lymari Cromwell advised on labor and employment matters.
“We appreciate the opportunity to represent Triage Consulting Group in this transaction,” said lead deal team attorney, Ryan Thomas, “and we look forward to seeing how Cloudmed will benefit hospital and health systems through their enhanced revenue integrity solutions.” Bass, Berry, and Sims recently hosted the 10th Annual Health Care Investors Conference, where several discussions highlighted the impacts of tech-enabled healthcare, and the potential impacts accelerating the future of health. More here.
To read the full press release issued by Revint Solutions, click here. The transaction was highlighted in several media outlets, including:
- “Revint Merges with Triage to Deliver Comprehensive Revenue Integrity” HIT Consultant (September 14, 2020)
- “Revint and Triage Become Cloudmed™, the Industry’s Most Comprehensive and Intelligent Revenue Integrity Platform” BusinessWire (October 20, 2020)
Triage Consulting Group, a hospital revenue integrity company, has identified and recovered over $5 billion in lost revenue for some 900 hospital clients. Triage offers comprehensive reimbursement and underpayment recovery services, including workers’ compensation, aged account resolution, Medicare review, and consulting services.
Revint Solutions was formed with the goal of creating a unique, first-of-its-kind, end-to-end enterprise platform provider of revenue integrity solutions for hospitals. Today, Revint partners with over 1,700 healthcare organizations in the United States and recovers over $800 million of underpaid or unidentified revenue for its clients annually.
The Healthcare Private Equity Team at Bass, Berry & Sims offers an unmatched combination of sophistication and value. We are focused on serving and adding value in the middle- and lower-middle market, and are uniquely positioned to provide the cost-effective yet sophisticated transactional solutions the current environment demands. Our results-oriented, business-minded deal attorneys work seamlessly with our nationally ranked healthcare regulatory attorneys to help private equity clients and their portfolio companies achieve their strategic goals. We also represent private equity funds in acquisition financings as borrowers and in mezzanine financing as lenders. Most notably, we pride ourselves as being deal facilitators and real-world risk analyzers. As a result of this experience and depth, the firm continues to be recognized as a staple law firm for private equity funds investing in healthcare. To learn more about our team, industry experience and value-add, click here.