Medusind, a provider of revenue cycle management and billing solutions to physicians and hospitals, raised an undisclosed amount of funding from Alpine Investors.
Terms of the private transaction were not disclosed. Kirkland & Ellis served as legal counsel, and TripleTree as financial advisor to Alpine in connection with this transaction.
As part of the investment, Rivero, an Alpine CEO-in-Residence and part of the firm’s PeopleFirst program, has assumed the role of CEO of Medusind. Private equity firms typically buy a majority interest in the target company when they invest.
Alpine Investors, a people-driven private equity investment firm, has over $8 billion in assets under management and has three offices in San Francisco, New York, and Salt Lake City. The firm’s investment portfolio of medical and dental healthcare and software companies includes – Lightwave Dental, Midwest Vision Partners, Optima Dermatology, and Radicle Health.
“On behalf of everyone at Alpine, we are excited to collaborate with Jose and the Medusind management team to continue to advance its leadership position as one of the top revenue cycle management companies in the country,” said Graham Weaver, CEO and Founding Partner at Alpine Investors. “We believe we are the ideal partners to help Medusind accelerate its growth, continue to provide an exceptional level of customer service and improve the efficiency and profitability for its clients.”
With new funds, Medusind plans to expand its cloud-based medical revenue cycle management and billing solutions for dental, anesthesia, pathology, emergency, surgery, radiology, and other specialties.
According to our funding database, healthcare revenue cycle management and medical billing startups have raised more than $5 billion in funding to date. More recently, Adonis, a provider of medical billing process automation solutions for healthcare providers and insurance companies, raised $5.6 million in Seed funding led by Bling Capital with participation from Max Ventures, Homebrew, Soma Capital, and Coalition Operators. In another deal, careviso, a provider of prior authorization and financial transparency software tools for healthcare providers, raised $17 million in Series B funding led by Ballast Point Ventures with participation from Mercury and Lytical Ventures.
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