Investment Boost for Elevate Patient Solutions, Courtesy of Audax and Parthenon
Elevate Patient Financial Solutions Secures Strategic Investment to Expand Revenue Cycle Management Solutions
Elevate Patient Financial Solutions, a leading provider of front-end eligibility and enrollment, as well as back-end complex claims and revenue integrity solutions, has secured a strategic investment from Audax Private Equity and Parthenon Capital. This investment is set to fuel the company's growth, enhance its existing revenue cycle management (RCM) offerings, and pursue future acquisitions.
Mike Shea, the CEO of Elevate, stated that the company has established itself as an industry-leader in front-end eligibility and enrollment, with a growing presence in back-end revenue cycle management solutions. He emphasized that this strategic partnership brings expertise in healthcare business growth, aligning with Elevate’s mission to deliver more value-added capabilities to clients amid a changing market environment.
Adam Abramson, a Partner at Audax, believes that Elevate is a strategic partner to its provider clients, as hospitals and health systems navigate significant regulatory changes impacting patient coverage across the country. He expressed excitement about supporting Elevate as it continues to pursue its mission of ensuring hospitals and health systems are able to provide care to those patient populations who need it most.
Dan Killeen, a Partner at Parthenon, echoed similar sentiments, expressing his firm's enthusiasm about the strategic vision for Elevate's future. He noted that the investment will help Elevate strengthen its existing RCM technologies and services, and develop new solutions to help hospitals and health systems improve operational performance.
Elevate serves some of the largest hospitals and health systems across the country and is expanding in other high-value RCM services and technology that can deliver tangible value to its hospital and health system clients. The company plans to strengthen its existing RCM technologies and services, and develop new solutions to help hospitals and health systems improve operational performance.
The investment from Audax Private Equity and Parthenon Capital is expected to support Elevate in pursuing innovative ways to deliver more value-added capabilities to its clients. Both firms are excited about the strategic vision for Elevate's future, which includes continued growth and expansion in the RCM market. Elevate looks forward to navigating an ever-changing market environment with the new support from Audax Private Equity and Parthenon Capital.
[1] Source: Company press release [2] Source: Audax Private Equity press release [3] Source: Parthenon Capital press release
The strategic investment from Audax Private Equity and Parthenon Capital will aid Elevate Patient Financial Solutions in pursuing acquisitions and advancing in the health-and-wellness sector, given their expertise in healthcare business growth. This financial boost will enable Elevate to further advance its science-drivenprivate equity venture in revenue cycle management (RCM) and health-related technologies.
