Edgewater Acquires Revenue Cycle Management Business
Edgewater Growth Capital Partners III, L.P. (the “Fund”) is pleased to announce the recent acquisition of MedFin Billing Services, Inc. and its affiliated companies (collectively “MedFin” or the “Company”). MedFin provides billing, practice management and outsourcing services for physician groups and ambulatory surgery centers. The Company is based in Sarasota, Florida with a wholly owned service center in Kolkata, India. MedFin will operate within the Fund’s platform company Bolder Healthcare Solutions which provides revenue cycle management services to hospitals and physicians.
MedFin enables its clients to navigate the increasingly regulated processes required to receive full and timely payment for medical services. These payment processes include highly technical coding, billing, negotiations with payors and payment appeals to ultimately maximize the cash flow received by the physician. MedFin’s 400 employees service a rapidly growing number of clients located principally in the Southeast and Mid Atlantic states. The Kolkata, India service center manages the extensive administrative requirements of the U.S. medical payment system at a low cost which makes MedFin a very cost effective solution for its clients. MedFin’s India service center will be expanded and utilized by other Bolder Healthcare Solutions companies.
Bolder Healthcare Solutions is continuing to actively pursue acquisitions across a broad range of revenue cycle management service providers.