The Edgewater Funds (“Edgewater”) is pleased to announce the recent sale of its ownership interest in Elevate Patient Financial Solutions (“Elevate” or the “Company”) to Audax Private Equity and Parthenon Capital.  

Elevate is a leading provider of technology-enabled specialty revenue cycle management solutions for hospitals and health systems nationwide. Elevate’s market-leading proprietary technology platform offers a unified suite of RCM solutions designed to engage patients, empower physicians and hospitals, and improve financial outcomes throughout the entire healthcare continuum. Elevate’s suite of solutions includes Eligibility & Enrollment, Complex Claims, Revenue Integrity, and Patient Pay solutions.

Following a successful exit of Edgewater’s first RCM investment, Bolder Healthcare Solutions, Edgewater partnered with experienced RCM industry executive Mike Shea for the second time in October 2019 to acquire Elevate, formerly known as MedData. During the investment period, Elevate completed and integrated seven strategic add-on acquisitions that expanded the Company’s best-in-class suite of solutions and geographic presence.

Edgewater partners with outstanding management teams to accelerate growth in their business.  We are a flexible partner and can execute control and non-control investments. Please contact us at info@edgewaterfunds.com for any questions or information.