PARSIPPANY, N.J., July 15,
2024 /PRNewswire/ -- Med-Metrix, LLC ("Med-Metrix",
or the "Company"), a leading provider of technology-enabled,
Revenue Cycle Management ("RCM") solutions that is backed by
A&M Capital Partners ("AMCP"), announced it has acquired
Healthcare Receivable Specialists, Inc. ("HRSI"). HRSI is a
specialized RCM and patient access company providing a
comprehensive suite of technology-enabled eligibility management
services. This acquisition further enhances Med-Metrix's
end-to-end RCM offerings with HRSI's best-in-class Medicaid
Eligibility services. Financial terms of the transaction were not
disclosed.
![Acquisition announcement MMX | HRSI Acquisition announcement MMX | HRSI](https://mma.prnewswire.com/media/2457379/July_2024_PR_01.jpg)
For the past 25 years, HRSI has supported health systems
throughout the Mid-Atlantic region of the U.S. HRSI is committed to
patient advocacy and strives to maximize reimbursement to its
health system clients by leveraging technology-enabled solutions.
HRSI's eligibility services encompass Medicaid and various federal,
state, and local programs, such as Social Security and Disability
(SSI / SSDI) and Children's Health Insurance Program (CHIP). HRSI
will continue to serve its customers across a diversified mix of
healthcare providers. HRSI is based in the greater Philadelphia, PA area.
"HRSI has earned an outstanding reputation as a leading
Eligibility Management platform, leveraging decades of domain
expertise. We are excited to partner with Chad Wallace and his leadership team to bring
their capabilities to the healthcare market throughout the U.S.
This transaction unites two closely aligned corporate cultures,
united in our mission to deliver exceptional performance for our
clients," said Joseph Davi, Founder
and CEO of Med-Metrix.
"Reflecting on HRSI's growth over the past few decades, we are
immensely proud of the outcomes our team has delivered for our
customers. We look forward to building on this momentum in
partnership with Med-Metrix, particularly in the Medicaid
Eligibility market," said Linda
Wallace, CEO and President and Chad
Wallace, Executive Vice President of HRSI.
"The acquisition of HRSI underscores and further accelerates
Med-Metrix's end-to-end focused RCM growth strategy. AMCP looks
forward to supporting Med-Metrix's high growth trajectory,
including additional strategic M&A opportunities," said
Rob Haisch, a Partner of AMCP.
About Med-Metrix
Med-Metrix is a leading technology-enabled services platform
providing RCM and Business Intelligence ("BI") solutions for health
systems and physician groups across the
United States. Med-Metrix provides end-to-end as well as
point solution RCM and BI services via the Company's proprietary
software platform. More information is available at
www.med-metrix.com.
About HRSI
HRSI has been providing solutions for
healthcare providers and self-pay patients for more than 25 years.
HRSI's vast experience and distinguished reputation were founded by
its compassionate approach towards resolving issues in the complex
world of uncompensated healthcare reimbursement. HRSI's
headquarters are in the greater Philadelphia, PA area. More information is
available at www.hrsi1.net.
About A&M Capital Partners
A&M Capital
Partners ("AMCP") is Alvarez & Marsal Capital's flagship
investment strategy focused on middle-market control transactions
in North America with total
commitments under management of approximately $4.0 billion. AMCP partners with founders,
corporates and management teams, providing the capital and
strategic assistance that we believe is required to take businesses
to the next level of success. More broadly, Alvarez & Marsal
Capital is a multi-strategy private equity investment firm with
over $5.9 billion in total
commitments under management across funds and managed accounts,
which maintains a strategic association with Alvarez & Marsal,
one of the largest operationally focused advisory firms in the
world. More information is available
at www.a-mcapital.com.
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SOURCE Med-Metrix, LLC