Bolder Capital, through its newly formed platform company, Bolder Healthcare Solutions, has completed the acquisition of Monti Eligibility and Denial Solutions and the Monti Group (MEDS), an outsourced provider of patient eligibility, enrollment and revenue recovery services to hospitals and health systems.
Bolder Capital and Michael Shea, an experienced healthcare executive, formed Bolder Healthcare Solutions earlier this month to identify and acquire healthcare revenue cycle management companies. Mr. 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.
MEDS is an outsourced provider of patient eligibility, enrollment and revenue recovery services to hospitals and health systems. The company serves customers in Florida, Indiana and Ohio. MEDS is based in Debary, FL (www.montieligibility.com).
“We are very pleased to be acquiring and investing in a high quality company like MEDS. The MEDS management team is working closely with me as we continue to deliver outstanding customer service while increasing our capabilities and reach. Bolder Healthcare Solutions is committed to bringing together best of breed companies, people, products and technologies across the health care revenue cycle,” said Mr. Shea.
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).
