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MediGain Obtains $38MM From Prudential Capital Group

October 27, 2014, 07:33 AM
Filed Under: Technology

MediGain LLC, a leading global provider of revenue cycle management (RCM) solutions and analytics for the healthcare industry, announced it closed a $38 million transaction with Prudential Capital Group. Deloitte Corporate Finance LLC (DCF) acted as a financial advisor to MediGain and helped facilitate the transaction.

“MediGain plans to continue its organic growth and execute a number of strategic acquisitions using funds from Prudential Capital Group, and we look forward to working with Prudential as a long term capital partner,” said Greg Hackney, Chief Executive Officer and President of MediGain. “DCF delivered a great combination of relevant industry experience, valuable access to capital providers and an important perspective on capital structures. Their work helped MediGain achieve an optimal structure with an ideal partner that has positioned the company for accelerated growth.”

“This positions MediGain as the fastest growing RCM company in the country,” said Dinesh Butani, Chairman of MediGain. “Our phenomenal growth in the US drives our corporate growth in India and Sri Lanka. MediGain is truly a global company with executive and corporate offices on both sides of the globe with an optimal factory direct model not common in the RCM industry.”

“We have been fortunate to follow MediGain’s impressive growth over the past few years, and we are pleased to assist with this recapitalization. We are also very excited to continue our relationship with MediGain as we expect to see many growth opportunities in the revenue cycle management and healthcare analytics sectors,” said Dave Vorhoff, managing director, Deloitte Corporate Finance LLC.

MediGain provides a full suite of revenue cycle management services and operates on the top eight practice management systems in healthcare, while MediGain competitors are hindered by only being able to provide services on a single platform. Having healthcare industry leading technology and global resources has allowed MediGain to grow tenfold over the past four years, providing services to the nation’s leading physicians and ambulatory surgery centers.

MediGain is a leading provider of revenue cycle management (RCM) solutions and one of the fastest growing medical billing companies in the healthcare industry. The company’s holistic, end-to-end product and service offerings span the entire spectrum of RCM functions, ranging from front-end services such as eligibility verification to back-end services such as accounts receivable collections. MediGain provides its service offering to over 400 clients, including independent physician groups, hospitals, and ambulatory surgery centers.

Prudential Capital Group has been a leading provider of private debt, mezzanine and equity securities to companies worldwide for more than 70 years. Managing a portfolio of $68.1 billion as of June 30, 2014, Prudential Capital offers senior debt and mezzanine capital, leveraged leases, credit tenant leases, and equipment finance to companies, worldwide.

Deloitte Corporate Finance LLC, a FINRA-registered broker-dealer, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. Deloitte Corporate Finance LLC provides deal execution and lead financial advisory services to large corporate, middle market, and private equity firms. Deloitte Corporate Finance has access to the resources of the Corporate Finance Advisory practices of the member firms (and their affiliates) within the Deloitte Touche Tohmatsu Limited network of member firms.

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