M&A Deal Summary

Elevate Patient Financial Solutions Acquires Cardon Outreach

On June 13, 2016, Elevate Patient Financial Solutions acquired information technology company Cardon Outreach from Serent Capital for 400M USD

Acquisition Highlights
  • This is Elevate Patient Financial Solutions’ 3rd transaction in the Information Technology sector.
  • This is Elevate Patient Financial Solutions’ largest (disclosed) transaction.
  • This is Elevate Patient Financial Solutions’ 5th transaction in the United States.
  • This is Elevate Patient Financial Solutions’ 2nd transaction in Texas.

M&A Deal Summary

Date 2016-06-13
Target Cardon Outreach
Sector Information Technology
Buyer(s) Elevate Patient Financial Solutions
Sellers(s) Serent Capital
Deal Type Add-on Acquisition
Deal Value 400M USD

Target

Cardon Outreach

The Woodlands, Texas, United States
Cardon Outreach LLC is a provider of third party eligibility and other revenue cycle management services for hospitals.

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Buyer(S) 1

Buyer

Elevate Patient Financial Solutions

Spring, Texas, United States

Category Company
Founded 1980
Sector Information Technology
DESCRIPTION

Elevate Patient Financial Solutions is a provider of technology-enabled revenue cycle management services for hospitals, health systems, and healthcare providers. Elevate Patient Financial Solutions proprietary technology platform offers a unified suite of solutions designed to engage patients, empower physicians and hospitals, and improve financial outcomes throughout the entire healthcare continuum. For four decades, the company has been providing innovative solutions to the medical community and serving hundreds of millions of patients across numerous medical specialties. Elevate Patient Financial Solutions was founded in 1980 and is based in Spring, Texas.


DEAL STATS #
Overall 5 of 9
Sector (Information Technology) 3 of 6
Type (Add-on Acquisition) 5 of 9
State (Texas) 2 of 3
Country (United States) 5 of 9
Year (2016) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-02 Duet Health

Columbus, Ohio, United States

Duet Health LLC is a developer of patient engagement software and mHealth solutions. Duet provides multi-platform software products that empower hospitals, health systems, and providers to better communicate and engage with their patient populations.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-15 RevClaims

Jackson, Mississippi, United States

RevClaims is a provider of complex claims revenue cycle management services. RevClaims service includes the processing and collection of third-party liability, workers compensation, and Veteran’s Administration claims balances on behalf of healthcare providers. RevClaims was founded in 2012 and is based in Jackson, Mississippi.

Buy -

Seller(S) 1

SELLER

Serent Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2008
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Serent Capital is a private equity firm focused on investing in profitable, growing businesses featuring scalable business models and operating in sectors undergoing significant change. Serent looks for companies with $5 to $100 million in growing annual sales where it can commit $20 to $200 million of capital. Target transaction situations include buyouts, recapitalizations, and growth financings. Serent Capital was formed in 2008 and is based in San Francisco, California.


DEAL STATS #
Overall 4 of 27
Sector (Information Technology) 1 of 3
Type (Add-on Acquisition) 4 of 23
State (Texas) 1 of 4
Country (United States) 4 of 25
Year (2016) 1 of 4
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-11 Next Gear Solutions

Oxford, Mississippi, United States

Next Gear Solutions is a provider of job management and workflow software to the restoration industry. Next Gear's SaaS platform is used by thousands of restoration contractors to manage all aspects of their business. Next Gear was founded in 2008 and is headquartered in Oxford, Mississippi.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-16 Optimal Blue

Plano, Texas, United States

Optimal Blue operates mortgage secondary marketing technology & facilitates transactions among mortgage market participants through its Marketplace Platform, actionable data, and technology vendor connections. Optimal Blue was formed in 2002 and is based in Plano, Texas.

Sell -