What You Ought to Know:
– Frazier Healthcare Companions (“Frazier”), a non-public fairness agency centered completely on the healthcare sector introduced the sale of Elevate Affected person Monetary Options (“Elevate” or the “Firm”) to Audax Non-public Fairness and Parthenon Capital. Monetary phrases of the transaction weren’t disclosed.
– Elevate, headquartered in Spring, TX, is a number one supplier of technology-enabled specialty income cycle administration (“RCM”) providers for hospitals and well being programs, with options throughout Eligibility & Enrollment, Complicated Claims, Income Integrity, and Affected person Pay.
From Carve-Out to Market-Main Platform
Frazier acquired Elevate, previously often called MedData, in 2019 in partnership with Govt in Residence Jim Brady. Following the acquisition, Frazier recruited Mike Shea as CEO and assembled a seasoned govt group. Throughout its possession, Frazier partnered with Elevate’s administration group to speed up natural progress by way of important investments in expertise, industrial infrastructure, and expertise. Frazier additionally supported seven strategic add-on acquisitions that expanded Elevate’s answer suite and remodeled the Firm right into a diversified RCM enterprise with market-leading choices for hospitals and well being programs.
“Elevate exemplifies Frazier’s thesis-driven strategy to healthcare investing,” stated Ryan Lucero, Accomplice at Frazier. “From carve-out to scaled, multi-solution platform, Elevate’s progress displays an outlined strategic imaginative and prescient, disciplined execution, and a high-impact partnership with administration. We’re proud to have supported this transformation and sit up for the Firm’s continued success.”
