Thompson Street Capital Partners has acquired Revenue Management Solutions (RMS), a provider of healthcare related electronic revenue management services. Scott Thomas, CEO of RMS, and the existing executive management team, contributed equity to the transaction and will remain with the business in a day-to-day capacity.
RMS’ products and services are designed to facilitate the matching, posting and reconciliation of health care payments to underlying claims or other correspondence. During 2016, the processed over 70 million transactions worth more than $40 billion in healthcare expenditures. RMS employs nearly 100 people and provides its services to banks, enterprise resource planning (ERP) providers and directly to healthcare institutions throughout the United States. The company was founded in 2006 and is based in Oklahoma City (www.revmansolutions.com).
“We are excited about partnering with Thompson Street and believe that this recapitalization will provide a strong base from which to continue the success RMS has achieved since its founding in 2006,” said Mr. Thomas. “The company has grown tremendously in recent years and the expertise that Thompson Street brings through its experience in both healthcare and business services will further accelerate that growth.”
“We are pleased to have the opportunity to partner with Scott and his executive team to help continue the growth of RMS,” said Jim Cooper, Managing Partner of Thompson Street. “The company’s focus on providing value to its customers and its strong legacy of customer support fit perfectly with our culture and we look forward to a successful partnership with the company.”
Thompson Street Capital Partners makes investments in companies with annual revenues between $20 million and $200 million and EBITDA between $4 million and $15 million. Since its founding in 2000, Thompson Street has acquired more than 100 companies in the business services, healthcare services and engineered products sectors. The firm held a final close of Thompson Street Capital Partners IV, LP with $640 million of capital commitments in December 2015. Thompson Street is based in St. Louis (www.tscp.com).
Thompson Street was advised by investment bank H&Q Advisory Partners (www.hqadvisorypartners.com).
© 2017 Private Equity Professional | January 10, 2017
