Med-Metrix Announces the Acquisition of HBCS, Further Strengthening the Company’s End-to-End RCM Capabilities
PARSIPPANY, N.J., June 10, 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 Hospital Billing & Collection Service, Ltd (“HBCS”). HBCS is a premier, tech-enabled RCM company that offers a comprehensive suite of RCM solutions. This acquisition significantly bolsters Med-Metrix’s end-to-end RCM offerings with HBCS’ best-in-class patient financial engagement solutions coupled with its insurance reimbursement capabilities. Financial terms of the transaction were not disclosed.
Since 1985, HBCS has served health systems across the U.S. and currently works with more than 75 hospital and physician groups. Dedicated to creating sustainable revenue cycle improvements, HBCS streamlines technology-enabled processes through superior billing and follow-up tools. HBCS will continue to serve its customers across a diversified mix of healthcare providers, maintaining its reputation as a mission-critical partner with an average client tenure of 10 years, and more than 25-year relationships with its largest clients. HBCS is based in New Castle, DE, with a regional office in Wakefield, MA.
The acquisition of HBCS further enhances Med-Metrix’s value proposition as a trusted partner to healthcare providers for end-to-end revenue cycle management needs. HBCS’ proprietary technology driven workflows and best-in-class self-pay capabilities have helped healthcare organizations minimize risk and increase revenue. HBCS will augment Med-Metrix’s back-end RCM capabilities, while adding patient account resolution solutions to improve patient engagement and drive better outcomes.
“This transaction brings together two very similar corporate cultures with a shared mission of delivering exceptional performance for our clients. We are thrilled to partner with HBCS’ outstanding leadership team to build upon their brand as a best-in-class patient financial services provider with decades of domain expertise,” said Joseph Davi, Founder and CEO of Med-Metrix. “HBCS has built a terrific company with a differentiated platform, and we look forward to integrating their solutions to further strengthen our collective capabilities,” said Rob Wright, Co-President of Med-Metrix.
“Our top priority has always been to respond to the needs of our clients. As a combined force with Med-Metrix, we will be better positioned to execute that mandate,” said Brian Wasilewski, President and CEO of HBCS. “Looking back at the growth of HBCS over the last few decades, I am very proud of the results our team has realized for our customers, and we look forward to building upon our success in partnership with Med-Metrix and their market leading proprietary software and end-to-end RCM service capabilities.”
“We believe that the combination of Med-Metrix and HBCS creates a further differentiated technology-enabled RCM platform. AMCP looks forward to supporting Med-Metrix’s current trajectory, including continued organic growth and additional 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 HBCS
HBCS is a healthcare services organization committed to helping its customers achieve sustainable revenue cycle improvements by streamlining processes, leveraging technology, and employing creative problem-solving. HBCS’ focus is on investing in client relationships, discovering new ways to optimize payer revenue, and assisting patients in resolving their healthcare bills. HBCS has been providing services to the healthcare industry since 1985, with an average client tenure of 10 years. HBCS is based in New Castle, DE, and has a regional office in Wakefield, MA. More information is available at www.hbcsrevcycle.com.
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 four investment strategies, 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
