$42.7 billion: that’s the annual cost of uncompensated care according to the AHA’s last report.
Clearlake Capital-backed nThrive completes acquisition of TransUnion’s healthcare business
Combined business will offer one of the most complete end-to-end revenue cycle management solutions for healthcare organizations, addressing growing demand for integrated, single vendor platforms.
nThrive, Inc. (now FinThrive), a healthcare revenue cycle management (“RCM”) software-as-a-service (“SaaS”) platform provider, backed by Clearlake Capital Group, L.P. (together with certain affiliates, “Clearlake”), today announced it has completed the acquisition of TransUnion Healthcare, Inc., the healthcare data and analytics business of TransUnion (NYSE: TRU). The unified business will offer healthcare organizations one of the most complete end-to-end RCM technology solutions available, streamlining patient access for better patient and financial outcomes, and empowering customers with increased predictability and confidence in their financial performance.
For acute and ambulatory providers, combining TransUnion Healthcare’s front-end capabilities with nThrive’s front-end workflow and complementary solutions creates a Patient Access powerhouse, improving the patient experience with simpler, more accurate check-in solutions. Additionally, combining TransUnion’s Social Determinants of Health data and Insurance Discovery capabilities with nThrive’s Claims and Contract Management solutions creates a highly compelling offering for payors. Payors will be able to use socioeconomic data to identify members at risk of needing more costly care, allowing care teams to intervene earlier. Insurance discovery tools help payors coordinate benefits coverage across a larger base of active insurers, reducing medical costs incurred by clients and increasing access to care for members. The full portfolio, which includes nThrive’s already strong middle-office and back-office cloud-based software solutions, will drive accelerated and efficient financial recovery for healthcare customers that results from implementing one of the most comprehensive end-to-end RCM technology and software platforms available.
“By offering our integrated solutions under one brand umbrella, we can provide healthcare organizations with a more predictable and accurate view of their financial performance while meaningfully improving the patient experience,” said Hemant Goel, CEO of nThrive. “We’re eager to get to work as a united team and leverage our joint solutions to add even more value to our customers.”
“We are excited about the combination of these technology businesses and the increased value proposition now offered to support healthcare organizations,” said Behdad Eghbali, Co-Founder and Managing Partner, and Paul Huber, Principal, of Clearlake. “We are thrilled to partner with both nThrive’s colleagues and TransUnion Healthcare’s talented associates to leverage Clearlake’s O.P.S.® framework and build a combined company that is well-positioned to accelerate organic growth and capitalize on further industry consolidation.”
Barclays, Deutsche Bank, Evercore, and William Blair acted as financial advisors to Clearlake and nThrive. Debt financing supporting the transaction was provided by J.P. Morgan, Deutsche Bank, CBAM Partners, Golub, Security Benefit Corporation, BMO Capital Markets, Barclays, Credit Suisse, Jefferies, Antares Capital, BNP Paribas, UBS, Oaktree Capital Management, Audax, Cliffwater, Neuberger Berman, and Stone Point. Sidley Austin LLP served as legal counsel to Clearlake and nThrive.
FinThrive – formerly nThrive and acquired companies, TransUnion Healthcare and PELITAS – is advancing the healthcare economy. Our 1,600-plus colleagues rethink revenue management to pave the way for a healthcare system that ensures every transaction and patient experience is addressed holistically. We’re making breakthroughs in technology—developing award-winning revenue management solutions that adapt with healthcare professionals, freeing providers and payers from complexity and inefficiency, so they can focus on doing their best work. Our end-to-end revenue management platform delivers a smarter, smoother revenue experience that increases revenue, reduces costs, expands cash collections, and ensures regulatory compliance across the entire revenue cycle continuum. We’ve delivered over $7.6 billion in net revenue and cash to more than 3,245 customers worldwide. When healthcare finance becomes effortless, the boundaries of what’s possible in healthcare expand. For more information on our new vision for healthcare revenue management, visit FinThrive.com
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials and consumer. Clearlake currently has approximately $39 billion of assets under management and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.
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