WARREN, N.J.--(AdvantEdge Healthcare Solutions, one of the nation’s leading providers of comprehensive healthcare financial management solutions including medical billing, practice management, and coding services for specialty physicians, hospitals, and surgery centers, has acquired Hill Associates, a New Hampshire-based medical billing company. Hill Associates is a leading provider of billing services and software to the behavioral health industry, and is a natural complement to AdvantEdge, which has expanded its strong footprint to include the behavioral health specialty through this partnership.)--
“ORIX Ventures is excited to continue to support AdvantEdge's growth strategy. We have backed AdvantEdge on multiple acquisitions and are believers in the management team and their proven ability to execute on their acquisition and integration strategy.”
“As the link between physical and behavioral health is becoming more apparent, hospitals and health systems are integrating with behavioral health facilities and looking for companies that can provide services to meet enterprise-wide needs,” said David Langsam, President and CEO of AdvantEdge. “Hill Associates is a leading provider of billing services in behavioral health, making it the perfect fit for AdvantEdge as we continue to execute our company’s growth plan. Our partnership with Hill will help us further expand our services to assist behavioral health organizations throughout the U.S.”
“AdvantEdge and Hill Associates share the same commitment to collecting the most money in the most expedient manner on behalf of our customers,” said Alan Hill, President of Hill Associates. “The strategic decision to align our company with AdvantEdge, a growing and innovative leader in the field, was about expanding our resources to enhance that commitment. AdvantEdge has extensive experience with physical health claims processing; developing interfaces with a variety of EMRs, clinical information platforms, and other systems; as well as sophisticated business analytics and reporting tools. These resources will be applied to benefit our behavioral health customers. By serving our growing customer base under the AdvantEdge banner, we’ll be able to strengthen our combined range of services, resources, and expertise.”
Hill Associates will be the “Center of Excellence” for AdvantEdge’s expanding behavioral health business.
ORIX Ventures provided AdvantEdge with senior financing to complete this transaction. “ORIX worked immediately to facilitate our acquisition of Hill Associates and we are pleased to have ORIX as a trusted lender,” said Langsam. Jeff Bede, Principal in ORIX Venture’s Washington, D.C. office said, “ORIX Ventures is excited to continue to support AdvantEdge's growth strategy. We have backed AdvantEdge on multiple acquisitions and are believers in the management team and their proven ability to execute on their acquisition and integration strategy.”
About AdvantEdge Healthcare Solutions
AdvantEdge is a technology-enabled provider of healthcare financial management solutions and business intelligence tools that substantially improve decision making, maximize financial performance, streamline operations and eliminate compliance risks for healthcare providers. AdvantEdge continues to gain meaningful scale through organic growth and strategic acquisitions, having completed seven since 2007. AdvantEdge is recognized as one of the top 10 billing, coding, and practice management companies in the U.S.; has more than 675 employees in eight regional offices in the U.S. and one office in Bangalore, India; and collects over $1 billion annually for its physician and hospital clients using its own proven technology. AdvantEdge clients include hospital-based physicians, hospitals, ambulatory surgery centers, and large office-based groups. AdvantEdge is backed by major investors including Safeguard Scientifics (NYSE:SFE) and Founders Equity. For more information about AdvantEdge, please visit our website at www.ahsrcm.com, “like” us on Facebook, or follow us on Twitter at @DoctorBilling.
About ORIX Ventures
ORIX Ventures provides customized financial solutions to mid- and late-stage growth companies with established customers and run-rate revenues of $10 million or greater. Since its inception in 2001, ORIX Ventures has invested more than $1 billion in capital with over 100 growth companies throughout the U.S. and Canada. For more information on ORIX Ventures, please visit www.orixventures.com. ORIX Ventures is a subsidiary of ORIX USA, which holds approximately $6 billion of assets and manages an additional $25 billion. ORIX USA is a wholly owned subsidiary of ORIX Corporation, a Tokyo-based, publicly owned international financial services company with operations in 28 countries worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX). Follow us on Twitter: @orixventures.