Edgewater Growth Capital Partners III, L.P. (“Edgewater”) is pleased to announce that its portfolio company Bolder Healthcare Solutions (“BHS”), a leading provider of revenue cycle management (“RCM”) services to the healthcare market, has recently acquired Prospective Payment Specialists, Inc. (“PPS”).
PPS provides medical coding and revenue cycle management solutions to the largest hospital systems, regional medical centers and critical care access hospitals in the country. For over 25 years PPS has improved the billing compliance, revenue and cash flow for more than 3,500 hospital engagements. PPS will continue to be led by its founder, Jay Janov, who will serve as its President. PPS will operate as a division within the ROI platform which was acquired by BHS in June of 2015. The combined companies add tremendous knowledge and management depth to the Company’s coding and chargemaster service offering.
Bolder Healthcare Solutions offers a growing suite of best of breed healthcare RCM services to the Hospital and Physician marketplace. BHS was formed through a partnership with experienced industry executive Michael Shea. BHS currently has over 2,000 employees serving over 600 clients across the U.S.
BHS is selectively targeting additional acquisition candidates in the RCM sector. Please contact Mike Shea (firstname.lastname@example.org) to discuss any acquisition opportunities.
Edgewater Growth Capital Partners III, L.P. (“Edgewater”) is pleased to announce that its portfolio company Industrial Service Solutions (“ISS” or the “Company”) recently added five businesses to its family of companies: Midwest Valve Parts Supply Co., Inc. (“MVP”), Cajun Valve Services, LLC (“CVS”), All-Pump & Equip. Co. (“APE”), Service Equipment & Repair Company, LLC (“SER”) and Plant-N-Power Services, LLP (“PNP”). Each business provides specialty industrial services to its client base and has built a reputation of quality, responsiveness and superior technical expertise. These companies augment the ISS platform with additional products and services, talented personnel and physical assets in new geographies.
ISS is building a national provider of industrial field services, repair and refurbishment of equipment found in most industrial and manufacturing facilities in North America. This market is extremely fragmented, making it difficult for major industrial companies to find a reliable single source of repair and maintenance services for mission critical equipment. Types of equipment in which ISS has particular expertise includes valves, actuators, motors, generators, pumps, compressors and boilers. The Company’s services are critical to the success of complex plant operations, the prevention of costly facility downtime, and the reduction of safety hazards.
Since inception, ISS has completed twenty-one (21) acquisitions and maintains over 40 service and distribution locations across the U.S. with approximately 1,500 employees. This combination of skilled technical workforce and physical assets enables ISS to offer a broad and valuable set of solutions to its expansive customer base.
The company seeks to acquire companies that provide industrial field services, repair and refurbishment of equipment found in industrial and manufacturing facilities in North America.
Edgewater Growth Capital Partners III, L.P. (“Edgewater”) is pleased to announce that its portfolio company Apex Parks Group (”Apex Parks” or the “Company”) has recently completed the acquisition of Indiana Beach Amusement Resort. Indiana Beach is a regional amusement and water park with a history dating back to its founding in 1926. Apex Parks is now one of the largest owners of family entertainment centers and regional amusement parks in the United States.
Apex Parks was formed by Edgewater with the initial platform investment completed in September 2014. The Company is led by Al Weber, a highly experienced industry CEO who previously was CEO of Six Flags Entertainment, Paramount Parks and Palace Entertainment. Apex is continuing to pursue a robust pipeline of additional acquisition opportunities.
Edgewater Growth Capital Partners III, L.P. (“Edgewater” or the “Fund”) is pleased to announce its recent investment in Vertical Bridge Holdings, LLC (“Vertical Bridge” or the “Company”). Vertical Bridge is an owner and manager of wireless communications infrastructure. Edgewater is partnering with the same management team that grew a very similar business, Global Tower Partners (“GTP”), from its inception in 2002 to the largest private operator of wireless communications infrastructure in North America. GTP was ultimately sold to American Tower in 2013 for $4.8 billion.
Vertical Bridge is executing the same investment thesis that its management team followed in building GTP. The Company is acquiring cell towers and rooftop cell sites to build out its national mobile communications network. The rapid growth of wireless data usage is leading to greater network demand from mobile carriers who are Vertical Bridge’s core customers. We believe Vertical Bridge represents an excellent ground floor opportunity to partner with a proven, world class management team in an industry sector with strong growth trajectory.
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.
Edgewater Growth Capital Partners II, L.P. (Edgewater) is pleased to announce the recent sale of its portfolio company Dental Holdings Corporation, doing business as Dental Services Group (“DSG” or the “Company”). DSG owns and operates the largest network of dental laboratories in North America. The Company manufactures and supplies dental prosthetic solutions including dentures, implants, orthodontic and sleep therapy products to over 10,000 customers, ranging from the largest dental practice management companies to individual dental practitioners. DSG was acquired by Cressey & Company, a highly respected private equity firm focused on health care industry investments.
Edgewater recruited an outstanding management team who successfully led the Company to become a low cost manufacturer, producing a wide range of quality products across every price point. The team completed 14 acquisitions to expand DSG’s product line and market coverage which resulted in a revenue growth rate that has outpaced the industry since 2011.
Edgewater Growth Capital Partners III, L.P. is pleased to announce that its water industry portfolio company Triwater Holdings, LLC has recently completed the acquisition of Paragon Water Systems, Inc. (“Paragon” or the “Company”). Paragon designs, develops and produces point of use water filtration products for leading global OEM clients, including major retailers, dealers and direct selling channels. Paragon offers its worldwide customers innovative R&D, proprietary technology and low cost manufacturing through their facilities in the U.S. and China. The Company has grown rapidly over the past several years as a result of new product and technology introductions and expansion into the Asian market.
Triwater has partnered in this investment with Paragon’s founders and they will continue to lead the Company’s operations.
Edgewater Growth Capital Partners III, L.P. is pleased to announce that its portfolio company BH Solutions, LLC (“BHS”) has recently acquired PPM Information Services, Inc. (“PPMIS” or the “Company”). BHS offers a growing suite of revenue cycle management services to large hospital and physician groups. PPMIS provides software and services for claims processing, collections management, reporting, patient scheduling, registration, coding, and financial management. The Company is an attractive addition to BHS’s Physician Services division, offering superior software capabilities, lower costs and an expanded customer base for the cross selling of other RCM services.
PPMIS was founded in 1996 and has operated as a wholly owned subsidiary of PPM Services Inc., a medical malpractice insurance company. PPMIS has developed a highly respected national reputation for innovation and quality. The Company has over 200 clients and 9,200 users including physician groups, medical billing companies, ambulatory surgical centers and hospitals. PPMIS will continue to be based in Mission, Kansas.
About Bolder Healthcare Solutions
Bolder Healthcare Solutions, LLC provides revenue cycle management (“RCM”) services to health care providers including hospitals, ambulatory surgery centers and physician groups. BHS employs over 800 people serving 450 client facilities across 26 states. In addition to its domestic operations, BHS manages two wholly owned operation centers in India. BHS is led by its CEO Mike Shea who previously was the Founder and CEO of MedAssist, a leading RCM company that served over 900 hospitals across the United States. BHS is actively building its portfolio of RCM services both organically and by acquisition. For additional information, contact Mike Shea at email@example.com.
Edgewater Growth Capital Partners III, L.P. (“Edgewater”) is pleased to announce its recent investment in Brilliance Financial Technology (“Brilliance” or the “Company”). Brilliance is a software business that provides Risk-based Pricing and Customer Profitability measurement solutions to the banking industry commercial loan portfolios. The Company’s clients include some of the world’s largest financial institutions as they manage their global loan processes in the face of increasing risk and regulations. Brilliance is headquartered in Sydney, Australia with additional offices in New York and San Francisco and serves clients in North America, Europe, Australia, and Africa.
Brilliance is the first investment under a newly formed holding company called Implement Holdings, LLC. Implement Holdings is pursuing acquisitions of financial technology companies which enable financial institutions to improve operations and profitability in the areas of risk management, pricing, compliance, decision support, portfolio rebalancing and many others. Replacing outdated legacy information systems is expected to be a major priority for banks as they seek to increase revenues, reduce costs and improve regulatory compliance.
Industrial Service Solutions (“ISS”), a portfolio company of Edgewater Growth Capital Partners III, L.P. is pleased to announce that it has recently completed four acquisitions: Precision Electric Co., Inc. (“Precision Electric”), Integrated Process Technologies, Inc. (“IPT”), Pro Inspection, Inc. (“Pro Inspection”) and M&L Valve Service, Inc. (“M&L Valve”). Each of these companies provides specialty industrial services to its client base and has built a reputation of quality, responsiveness and superior technical expertise. These companies will augment the ISS platform with additional products and services, talented personnel and physical assets in new territories.
- Precision Electric sells, services and repairs all makes and models of electric motors, pumps, controls and related equipment across the Southwestern U.S. The company is capable of providing repair or replacement solutions across all major motor and pump brands and models.
- IPT distributes valves, actuators, pumps, cryogenics, controls, filtration systems, chemical storage systems and a variety of other process equipment. The company also provides value-added services including in-house engineering, shop assembly and testing capabilities.
- Pro Inspection provides non-destructive testing and inspection of pipes, weld joints, compressors, pressure vessels and other fabricated products and equipment used by companies in various industrial and commercial markets.
- M&L Valve specializes in valve distribution, repair and field services primarily for customers in the oil & gas and power generation industries.
ISS is building a national provider of industrial field services, repair and refurbishment of equipment found in most industrial and manufacturing facilities in North America. This market is extremely fragmented, making it difficult for major industrial companies to find a reliable single source of repair and maintenance services for mission critical equipment. Equipment in which ISS has particular expertise includes valves, actuators, motors/generators, pumps and compressors that are critical to maintaining plant operations and minimizing downtime. Since inception, ISS completed fifteen acquisitions and maintains over 25 service and distribution locations across the U.S. with over 500 skilled technicians. This combination of human and physical assets enables ISS to offer a broad and valuable set of solutions to its expansive customer base. The company maintains a robust pipeline of complementary companies that should continue the current pace of expansion and profitable growth.