BOSTON, MA (June 15, 2016) – Aeris Partners is pleased to announce Navicure, a leading provider of cloud-based revenue cycle management, patient payment, and analytics solutions to more than 90,000 healthcare providers throughout the U.S., has entered into a definitive agreement to receive a strategic investment from Bain Capital Private Equity, a leading global private investment firm. Navicure increases revenue, accelerates cash flow, and reduces costs for practice- and hospital-based healthcare providers by leveraging a best-in-class suite of revenue cycle management solutions designed to optimize revenue cycle speed, accuracy and automation. Financial terms of the transaction were not disclosed.
Aeris Partners served as the exclusive M&A advisor to Navicure and JMI Equity. The transaction is expected to close in July 2016.
“Navicure’s cloud-based solutions are truly mission critical, especially in light of increased revenue cycle complexity, provider reimbursement trends, and an ongoing shift to value-based care. Navicure’s commitment to innovation, market leadership, and superior client service is driving strong growth and the Company is incredibly well positioned for the future. We’re excited for Jim Denny and the Navicure team, and believe Bain Capital will be an exceptional partner throughout the Company’s next phase of growth,” said David Joncas, Managing Director with Aeris Partners.
Navicure’s cloud-based healthcare claims management and patient payment solutions help healthcare organizations of all sizes increase revenue, accelerate cash flow, and reduce costs associated with managing insurance claims and patient payments. Serving more than 90,000 healthcare providers nationwide, Navicure’s technology solutions automate account receivables processes, including claims management; patient eligibility verification; remittance and denial management including automated secondary claims filing, appeals, and posting; reporting and analysis; and patient payment collections at and near the time of service. Navicure’s solutions are supported by its unique 3-Ring® Client Service which guarantees that a client service representative will answer every client call in three rings or less. Navicure is the exclusive billing and patient payment solution of the MGMA Executive Partner network.
About Bain Capital Private Equity
Bain Capital Private Equity (baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since their founding in 1984. Bain Capital’s team of more than 400 investment professionals creates value for their portfolio companies through their global platform and depth of expertise in key vertical industries including consumer/retail, financial and business services, healthcare, industrials, and technology, media and telecommunications. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.
About Aeris Partners
Aeris Partners provides premium strategic M&A advisory services to best-in-class software and Software-as-a-Service (SaaS) companies, private equity investors and venture capital firms spanning a range of high-growth vertical markets including healthcare (HCIT), financial technology (FinTech), architecture, engineering and construction (AEC), energy & power (EnergyTech), education (EdTech), analytics, transportation and logistics, and the public sector, among others. Aeris leverages extensive technology domain expertise and an unparalleled commitment to delivering superior M&A outcomes on every transaction. The firm’s senior leadership team has successfully completed more than $18 billion of M&A advisory assignments to date. For more information, please visit: aerispartners.com.
Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC.