WAYNE, PENNSYLVANIA – 2/17/2023: Falcon Capital Partners, LLC (“Falcon”), a leading middle-market investment bank, is pleased to announce the sale of CPa Medical Billing (“CPa”) to GeBBS Healthcare Solutions (“GeBBS”), a portfolio company of ChrysCapital.
Carmen Pascarella, CEO founded CPa Medical Billing a leading revenue cycle management company with a particular niche in serving the Federally Qualified Health Center (FQHC) market in 2003. In addition to its industry leading position in the FQHC billing market, CPa also serves dermatology, primary care, orthopedic, ophthalmology, and other specialty practices.
GeBBS Healthcare Solutions, a ChrysCapital portfolio company, is a KLAS rated leading provider of Revenue Cycle Management (RCM) services and Risk Adjustment solutions. GeBBS’ innovative technology, combined with over 14,000-strong global workforce, helps clients improve financial performance, adhere to compliance, and enhance the patient experience. Headquartered in Los Angeles, CA, GeBBS has won numerous accolades for its medical coding outsourcing and medical billing outsourcing, including being ranked in Modern Healthcare’s Top 3 Largest RCM Firms, Black Book Market Research’s Top 20 RCM Outsourcing Services, and Inc. 5000’s fastest growing private companies in the U.S.
The acquisition of CPa provides GeBBS with a larger U.S. footprint and an entry way into the FQHC market.
Falcon served as the exclusive financial advisor to CPa. Ted Stack, Managing Director at Falcon, stated, “Falcon was extremely honored to have worked with Carmen Pascarella, CEO, and the entire CPa team in transacting the business. We are excited to see both organizations leverage each other’s strengths to serve their clients.” Carmen Pascarella stated “Falcon was invaluable to us in navigating a transaction that considered all our strategic objectives and growth prospects moving forward. We are excited for what is to come in the future of RCM and we are confident that we will expand our role with our new partner.”
The terms of the transaction were not disclosed. This transaction represents Falcon’s continued expertise in the revenue cycle management sector of healthcare. The Falcon deal team was led by Managing Director Ted Stack, Director Don Wanner, and Senior Associate Steve Wasylenko. For more information, please contact Ted at tstack@falconllc.com, Don at dwanner@falconllc.com, or Steve at swasylenko@falconllc.com.
