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H.I.G. Completes Sale of Medusind

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Press release content from Business Wire. The AP news staff was not involved in its creation.
January 12, 2023 GMT

MIAMI--(BUSINESS WIRE)--Jan 12, 2023--

H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $53 billion of equity capital under management, is pleased to announce the sale of its portfolio company Medusind (“Medusind” or the “Company”) to Alpine Investors (“Alpine”). Terms of the transaction were not disclosed.

Founded in 2002 and based in Miami, Florida, Medusind is a leading provider of comprehensive end-to-end revenue cycle management (“RCM”) solutions including practice management, eligibility, coding, claims processing and value-added analytics. The Company’s service offering and technology solutions optimize the healthcare revenue cycle process, create significant operating efficiencies, and ensure adherence to regulatory compliance requirements.

H.I.G. acquired Medusind in April 2019 from the Company’s founders and partnered with management to improve the operating infrastructure, enhance the technology platform, expand the service offering and grow the sales & marketing organization. Additionally, during H.I.G.’s ownership, the Company made multiple executive hires and successfully executed several strategic add-on acquisitions. These initiatives accelerated revenue and EBITDA growth substantially, and resulted in an outstanding outcome for all stakeholders.

Vipul Bansal, Medusind’s CEO and Group President, said, “We appreciate H.I.G.’s strategic guidance and commitment to Medusind. They have been fantastic partners and delivered on the commitments they made to support our organization. Alpine’s investment is a strong endorsement of our achievements over the last four years.”

Camilo E. Horvilleur, Managing Director at H.I.G. Capital, commented, “It has been a pleasure to work with and support Vipul and his team. We truly appreciate and value their dedication and partnership. Medusind’s client-first culture, commitment to flawless execution, and growth-oriented mindset were critical in achieving a terrific outcome.”

Anthony Chambers, Managing Director at H.I.G. Capital, added, “It has been a privilege to help realize management’s strategic vision through investments in the Company’s technology and delivery platform. The tireless efforts from Medusind’s entire global team have uniquely positioned the Company to support healthcare providers with unmatched end-to-end practice management solutions. We look forward to following the Company’s continued success.”

Guggenheim Securities, LLC served as financial advisor, and Paul Hastings LLP and Polsinelli served as legal counsel to Medusind in connection with this transaction.

About Medusind

Medusind is a leading provider of technology solutions and revenue cycle management services to clients in the healthcare industry. The Company’s robust technology suite includes the cloud-based MedClarity® practice management platform and additional internally developed and supported resources. Medusind was founded in 2002, headquartered in Miami, FL and has more than 3,800 global employees including medical professionals, medical coders, RCM and client service experts and software developers. For more information, visit https://www.medusind.com.

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with $53 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the USA, as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

View source version on businesswire.com:https://www.businesswire.com/news/home/20230112005199/en/

CONTACT: Camilo E. Horvilleur

Managing Director

chorvilleur@higcapital.comAnthony Chambers

Managing Director

achambers@higcapital.com

KEYWORD: FLORIDA UNITED STATES NORTH AMERICA CANADA

INDUSTRY KEYWORD: OTHER PROFESSIONAL SERVICES SOFTWARE FINANCE PUBLIC RELATIONS/INVESTOR RELATIONS BANKING COMMUNICATIONS PROFESSIONAL SERVICES TECHNOLOGY

SOURCE: H.I.G. Capital

Copyright Business Wire 2023.

PUB: 01/12/2023 09:00 AM/DISC: 01/12/2023 09:02 AM

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