Rockville, MD – July 24, 2020 – Greenberg Advisors (“GA”) is pleased to announce the sale of Praxis Healthcare Solutions (“Praxis”) to Revint Solutions (“Revint”), a portfolio company of New Mountain Capital.
Headquartered in Plano, Texas, Praxis is a leading provider of revenue cycle management services focused principally on revenue integrity, denials management, insurance follow up, and complex claim resolution for hospitals and long-term care facilities throughout the United States.
Praxis’ Founder and CEO, April Kooiman, commented “We look forward to bringing the Praxis expertise and success to the Revint family. By joining forces, we are strengthening our teams to offer a premium denial management and account receivables recovery service to the provider community. Our team is confident that the business will continue to grow and thrive under this new partnership.”
Zach Eisenberg, Vice President at GA, noted, “What April and her team have built at Praxis in just a few short years is nothing short of incredible and enabled us to find the ideal partner in Revint. Together, they will be a formidable player in the revenue integrity and complex claims markets.”
According to Brian Greenberg, CEO of GA, “The strength of the Praxis business combined with our deep market expertise enabled us to run a highly targeted and competitive process to unquestionably determine the best buyer and fit for our client. Completing this transaction during the COVID-19 pandemic certainly added a few challenges but our client and our team at GA rose to meet every one of them.”
GA served as exclusive M&A advisor to Praxis throughout this transaction. Terms of the transaction were not disclosed.
About Greenberg Advisors
Greenberg Advisors, LLC is an independent investment bank providing world-class M&A and strategic advisory solutions to Business Services and Technology companies in the Healthcare, Accounts Receivable Management (ARM), and Business Process Outsourcing (BPO) sectors. Within Healthcare, Greenberg’s market depth, experience, and relationships span the software and services that address functions from patient engagement, scheduling, and patient access, to clinical documentation, Revenue Cycle Management (RCM), and others. Focused on these sectors for nearly 25 years, the firm’s professionals offer a comprehensive, yet highly specialized perspective from which to advise clients, which has resulted in the completion of over 130 M&A, capital raising, valuation, and strategic advisory engagements. These client successes reflect its distinct client-first approach, objective point of view, deep sector expertise, and work ethic. For more information, follow the firm on Twitter @GreenbergAdvsrs or visit www.greenberg-advisors.com.