WAYNE, PENNSYLVANIA – November 21, 2019: Falcon Capital Partners, LLC, a leading middle-market investment bank, is pleased to announce the sale of Kareo Managed Billing LLC (“KMB”), a wholly owned subsidiary of Kareo, Inc., to Health Prime International, LLC (“HPI”), a portfolio company of Austin Lake Technologies.
KMB offers end-to-end revenue cycle management with its primary focus on independent physician practices across multiple specialties. The Company services over 2,200 physicians and other medical professionals from more than 45 specialties in 46 states. KMB is based in Irvine, CA with additional offices in FL, NC, NV, TX, and Costa Rica.
HPI provides platform-agnostic revenue cycle management (RCM), electronic health record (EHR), transcription, and practice management services to medical practices across the US. HPI is headquartered in National Harbor, MD.
Falcon served as exclusive sell-side advisor to Kareo, Inc. Kareo’s Chief Financial Officer Dave Justus commented, “Falcon was instrumental in helping us to navigate through the intricacies of carving out KMB and shepherding this transaction to a successful outcome for all. Ted Stack and the rest of the Falcon team are true professionals and fantastic partners.”
The terms of the transaction were not disclosed. The Kareo press release can be found here.
Falcon has established itself as one of the leading strategic and M&A advisors to healthcare service and technology companies both domestically and internationally and adds KMB to the growing list of companies in the revenue management space that it has advised. The Falcon deal team was led by Managing Director Ted Stack, and Vice President Don Wanner. For more information please contact Ted at firstname.lastname@example.org, 610-989-8901 or Don at email@example.com. 610-989-8907.