Harris Williams Advises Practice Insight, LLC on its Sale to eSolutions Inc.
June 20 2019 - 9:49AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised Practice
Insight, LLC (Practice Insight), a portfolio company of Eli Global,
on its sale to eSolutions Inc. (eSolutions), a portfolio company of
Francisco Partners. Practice Insight is a leading provider of
integrated electronic data interchange (EDI) and revenue cycle
management (RCM) workflow solutions for healthcare providers. The
transaction was led by Sam Hendler, Dan Linsalata and Mike Quealy
of Harris Williams’ Technology, Media & Telecom (TMT)
Group.
“We’re thrilled to have had the opportunity to partner with
Practice Insight on another successful transaction as the company
continues to succeed and achieve its mission of making healthcare
more efficient and affordable,” said Sam Hendler, a managing
director at Harris Williams. “We’re excited to watch the company’s
future as part of the eSolutions platform.”
“We remain impressed with what Practice Insight has been able to
accomplish as it innovates in a complex and dynamic healthcare
reimbursement ecosystem,” added Dan Linsalata, a director at Harris
Williams. “The company continues to enhance its revenue cycle
workflow software, expand its payer, provider and reseller
relationships and develop new solutions designed to meet the needs
of the ever-evolving healthcare industry.”
Practice Insight, founded in 2003, provides proprietary
software-as-a-service (SaaS) solutions that streamline
clearinghouse and revenue cycle workflows for healthcare providers
across all settings. The company’s proprietary platform,
EDIinsight, improves the entire healthcare billing process by
leveraging robust connections to payers and seamless integration
with providers to reduce rejections, speed payments and increase
total reimbursement, all while providing patients with increased
transparency, convenience and payment flexibility. Practice Insight
partners with hundreds of leading healthcare practice management
software vendors across North America to deliver the power of its
solutions to more than 70,000 healthcare providers in all 50
states. Beyond connecting providers with thousands of commercial
and government payers for streamlined claims submission, Practice
Insight’s software enables providers to track claims in real-time;
scrub and edit claims; automate claim workflows; verify patient
eligibility and estimate costs; post patient payments; and improve
clearinghouse and revenue cycle management processes with robust
reporting and analytics capabilities.
Eli Global, founded in 1991 and based in Durham, North Carolina,
is a multi-national conglomerate of independent portfolio
companies. The company invests across a diversified range of
sectors, including healthcare, technology, insurance and financial
services. As a partner to over 130 businesses around the world, Eli
Global provides information and financial services to entities that
comprise over 9,500 employees.
eSolutions is a healthcare technology company working to
strengthen providers’ revenue health so they can focus on what
really matters – their patients. The company’s powerful,
easy-to-use revenue cycle and workflow management tools, paired
with actionable data analysis and insights, improve efficiency,
minimize denials and reduce time to revenue for clients. Focused on
eligibility, claims, data and analytics, audits and denials, and
quality and compliance, eSolutions saves providers time and money
in an increasingly complex industry. For more than 20 years,
providers of all types, including the nation’s largest post-acute
care organizations and health systems, have trusted the company to
deliver innovative, dynamic solutions and second-to-none client
care. eSolutions is driven by a passion to provide solutions to
clients’ tough challenges and to care for clients the way they care
for their patients.
Francisco Partners is a leading global private equity firm that
specializes in investments in technology and technology-enabled
businesses. Since its launch over 19 years ago, Francisco Partners
has raised over $14 billion in committed capital and invested in
more than 200 technology companies, making it one of the most
active and longstanding investors in the technology industry. The
firm invests in opportunities where its deep sectoral knowledge and
operational expertise can help companies realize their full
potential.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
Harris Williams’ TMT Group advises leading private and public
companies, entrepreneurs, private equity firms and venture capital
firms on mergers and acquisitions and capital-raising transactions
worldwide. The TMT Group has deep domain expertise in the
Software/SaaS and Internet & Digital Media segments, with
particular emphasis on specific verticals including education
technology, data analytics, energy technology, fintech, public
sector, and supply chain/logistics—with a dedicated healthcare
technology (HCIT) practice. Across verticals, the firm also advises
technology services and networking solutions businesses. For more
information on the TMT Group and its recent transactions, visit the
TMT Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
For media inquiries, please contact Katie Langemeier, associate
brand manager, at +1 (804) 915-0179.
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Katie Langemeier, associate brand manager +1 (804) 915-0179
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