Medical Payment Exchange (MPE) is a health care information technology company that assists its customers with managing their reimbursement claims by bundling claims into more manageable cash flow streams, thereby reducing the administrative burden of claim management. MPE was founded by Tom Blair and is based in Rockville, MD (no website found). Mr. Blair and his management team at MPE have previously launched and developed four successful healthcare ventures, including Catalyst Health Solutions and United Payors & United Providers.
Riverside has experience in healthcare/healthcare IT investments having completed more than 70 healthcare transactions, and has a dedicated Healthcare Industry Specialization team. “Riverside will provide much more than capital to help drive the growth of MPE,” said Mr. Blair. “We feel extremely fortunate to be able to draw on the expertise of Riverside and its senior advisors.”
Riverside Senior Advisor Harvey Sigelbaum introduced Tom Blair to Riverside. The Riverside transaction team of Managing Partner Hal Greenberg and Vice President Jay Reynolds worked on the transaction.
“We’re thrilled to support a great team with a tremendous vision for a value-added service,” said Mr. Greenberg. “We see a real need for MPE’s service offering, and anticipate strong growth driven by a talented and experienced management team.”
The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”). Riverside specializes in investing in SEMM companies (those valued up to $250 million) and partners with management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in more than 350 transactions with a total enterprise value of more than $6 billion. The firm’s current portfolio includes more than 70 companies. The Riverside Company is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).
2014 PEPD • Private Equity’s Leading News Magazine • 9-26-14