Edgewater Growth Capital Partners III, L.P. is pleased to announce that its portfolio company, Bolder Healthcare Solutions (“BHS”) has recently completed the acquisition of two significant revenue cycle management (“RCM”) companies.
BHS first announced the acquisition of Avectus Healthcare Solutions, based in Corinth, MS. Avectus is a leader in the resolution of complex third party liability and workers’ compensation accounts for hospitals and trauma centers. Avectus will continue to be led by its founder and CEO Tim Smith along with his experienced team.
The second acquisition is The ROI Companies (“ROI”) based in Timonium, MD. ROI provides critical services to hospitals and physician groups including insurance billing and follow-up, self-pay billing, coding, eligibility, consulting, cash acceleration and collections. The Company has offices in the Baltimore, Boston, Cleveland, Philadelphia and Washington, DC markets. Chris Wunder, ROI’s CEO and founder, will continue to lead his team in the management and growth of ROI.
Bolder Healthcare Solutions was formed in 2012 and offers a growing suite of best of breed healthcare revenue cycle management services to the Hospital and Physician marketplace. BHS is led by Mike Shea who previously was the founder and CEO of MedAssist. With the addition of Avectus and ROI, BHS now has over 1,500 employees in the US and India to serve over 500 clients across 47 states. BHS continues to pursue acquisitions of select, high quality RCM service providers.