Bolder Capital and Michael Shea, an experienced healthcare executive, have partnered to identify investment opportunities in the healthcare revenue cycle management industry. The new company will be called Bolder Healthcare Solutions.
“Hospitals and physician groups face growing pressure in their efforts to maximize cash flow throughout their revenue cycle. The increase in healthcare regulations and price pressures are accelerating the demand for specialized outsourced services,” said Dave Tolmie, Partner with The Edgewater Funds and Managing Director of Bolder Capital. “Michael Shea has been an extraordinarily successful entrepreneur and leader in this evolving industry for over two decades. Bolder Capital is honored to be Mike’s partner.”
Michael Shea has more than 22 years of experience in the healthcare revenue cycle management industry. He founded MedAssist in 1989 and by 2007 led the company to become a 1,400 person enterprise with over $100 million in revenues. In partnership with a private equity investor, Mr. Shea sold MedAssist to Firstsource Solutions for $330 million. He remained on as president and CEO of MedAssist, and president of Global Healthcare Solutions and CEO of North America, until 2010.
“I am very pleased to partner with Bolder Capital to build an outstanding company that will strive to provide cutting edge solutions for healthcare providers in a very challenging environment. We intend to build a company that will help improve the cash flow and bottom-line of our client hospitals and physician providers, by providing domain expertise in a number of critical markets specialties,” said Mr. Shea, Chief Executive Officer of Bolder Healthcare Solutions.
Bolder Capital was founded by Todd Hamilton in 2004 and has a co-investment relationship with The Edgewater Funds and JZ Capital Partners. The firm focuses on partnering with experienced CEOs to build middle market companies through organic and acquisition growth. Bolder Capital is based in Chicago, IL (www.boldercapital.com).