Edgewater Growth Capital Partners III, L.P. (“Edgewater”) is pleased to announce the recent sale of its portfolio company Bolder Healthcare Solutions (“BHS” or the “Company”). Headquartered in Louisville, KY, BHS is the leading provider of revenue cycle management (RCM) solutions to hospitals, physician practices and other specialist healthcare organizations in the United States. BHS provides RCM solutions for hospitals, hospital outpatient departments, physician practices, and other specialty care providers. RCM software and processes integrate and automate healthcare administrative and medical data to ensure benefit eligibility and accurate billing and collections, greatly reducing the time between delivery of service to payment received. BHS was acquired by Cognizant (Nasdaq: CTSH), a leading professional services company.
Edgewater formed BHS in July 2012 with Mike Shea, a seasoned healthcare executive with over 25 years of experience in the RCM sector, and its co-investor JZ Capital Partners. During the investment period, BHS completed and integrated nine strategic acquisitions that expanded the Company’s specialized RCM offerings to provide end-to-end solutions to hospitals, physicians and other healthcare organizations.