Waud Capital Partners Acquires Patient Financial Services and Absolute Collection Service

Waud Capital Partners Acquires Patient Financial Services and Absolute Collection Service

Optimum Outcomes, a provider of account resolution services to hospitals and a portfolio company of Waud Capital Partners, has acquired Patient Financial Services and Absolute Collection Service (collectively, “ACS”). “The acquisition of ACS represents another critical milestone in our vision of becoming the recognized leader in optimizing financial outcomes and enhancing the total patient experience,” said Mike Jacoutot, Chief Executive Officer of Optimum Outcomes. “With a trusted brand, best-in-class solutions and experienced management team, ACS is a highly strategic fit for Optimum Outcomes.”

ACS provides several services to its hospital clients, primarily extended business office self-pay billing and account resolution, aged receivables account resolution and data warehousing services for hospitals that are undertaking, or have recently completed, systems conversions. The company has 275 employees and is headquartered in Raleigh, NC (www.patientfinancialservices.com).

Optimum Outcomes is a provider of healthcare revenue cycle management (RCM) services focused on patient account resolution for hospitals and hospital-based physician groups. The company operates three contact centers, with locations in Downers Grove, IL (headquarters); Raleigh, NC; and Hoover (suburban Birmingham), AL. Waud Capital Partners acquired Optimum Outcomes in May 2011 (www.oorcm.com).

“Since our initial investment two years ago, Optimum Outcomes has quickly become one of the largest companies in the healthcare account resolution industry,” said David Neighbours, Chairman of Optimum Outcomes and Partner at Waud Capital Partners. “We are excited about the company’s growth prospects and look forward to continuing to work with Mike and his team to build Optimum Outcomes into the premier provider of healthcare revenue cycle services.”

Waud Capital Partners makes investments from $10 million to $100 million in middle-market companies with enterprise values from $30 million to $300 million that operate in the following sectors: healthcare services; business and consumer services; specialty distribution; and select industrial businesses. The firm is located in Chicago, IL (www.waudcapital.com).

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