M&A Deal Summary

CorroHealth Acquires ParaRev

On May 18, 2022, CorroHealth acquired business services company ParaRev from Housatonic Partners

Acquisition Highlights
  • This is CorroHealth’s 5th transaction in the Business Services sector.
  • This is CorroHealth’s 5th transaction in the United States.
  • This is CorroHealth’s 1st transaction in Illinois.

M&A Deal Summary

Date 2022-05-18
Target ParaRev
Sector Business Services
Buyer(s) CorroHealth
Sellers(s) Housatonic Partners
Deal Type Add-on Acquisition
Advisor(s) Lincoln International (Financial)

Target

ParaRev

Elgin, Illinois, United States
website
ParaRev offers healthcare revenue cycle management services, from front-end charge master analysis and contract management to end-of-cycle zero-balance underpayment and denial recovery. ParaRev is based in Elgin, Illinois.

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Buyer(S) 1

Buyer

CorroHealth

Plano, Texas, United States

website


Category Company
Founded 2020
Sector Business Services
DESCRIPTION

CorroHealth focuses on providing a breadth of reimbursement cycle solutions. Across the reimbursement cycle, CorroHealth's scalable programs and clinical expertise help solve programmatic needs. CorroHealth was founded in 2020 and is based in Plano, Texas.


DEAL STATS #
Overall 6 of 7
Sector (Business Services) 5 of 6
Type (Add-on Acquisition) 2 of 3
State (Illinois) 1 of 1
Country (United States) 5 of 6
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-20 Medical Savant

Plano, Texas, United States

Medical Savant offers knowledge-based artificial intelligence (AI) software as a service (SAAS) custom HIM solutions, tailored to the unique needs of healthcare providers, to significantly and materially enhance their operations and, consequently, improve service levels. Medical Savant is based in Plano, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-25 Aergo Solutions

Iselin, New Jersey, United States

Aergo Solutions is a provider of receivables collection for healthcare companies from third-party payers. Aergo solves revenue cycle challenges through a customized mix of services, technology, and consulting. Aergo Solutions is based in Iselin, New Jersey.

Buy -

Seller(S) 1

SELLER

Housatonic Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1994
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Housatonic Partners is a private equity firm focused on investing in growing, profitable companies with a preference for businesses generating recurring revenues. Target sectors include services, media, and communications. Housatonic looks to commit $10 to $30 million per transaction to support buyouts and recapitalizations. Prospective companies generally have high gross margins and moderate capital intensity. Housatonic was formed in 1994 and has offices in Boston, Massachusetts and San Francisco, California.


DEAL STATS #
Overall 43 of 44
Sector (Business Services) 10 of 10
Type (Add-on Acquisition) 19 of 20
State (Illinois) 4 of 4
Country (United States) 42 of 42
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-31 Efficient Hire

Littleton, Colorado, United States

Efficient Hire is a designer and developer of cloud-based data collection automation software that integrates into a company's human resource and hiring process. It serves customers in the restaurant, staffing, retail, call center, and convenience store industries. Efficient Forms was founded in 2004 and is based in Littleton, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-16 Key Media

Sydney, Australia

Key Media is a B2B media company that operates through its 70+ digital and print B2B media titles and 80+ annual events in six geographical markets. Key Media was founded in 2001 and is based in Sydney, Australia.

Buy -