WAYNE, PENNSYLVANIA – 04/13/2022: Falcon Capital Partners, LLC (“Falcon”), a leading middle-market investment bank, is pleased to announce the sale of Symed Corporation (“Symed) to Cosentus Business Services (“Cosentus”).
Symed, headquartered in Napa, CA is a leader in Revenue Cycle Management services and software enabling the highest standards of reporting and process optimization within a number of specialties including behavioral health and ophthalmology. The company offers turnkey RCM solutions that include EHR Integrations, Charge Import & Export, Electronic Billing & Payment Posting, Denial Management, Verification of Benefits, Payer Contracting & Negotiating, Provider Enrollment, and customized solution of varying complexity. Symed has a track record of ensuring that its clients obtain maximum reimbursement for their services by providing superior data analytics and access to expert consultants. Their commitment to quality is evidenced by the longstanding tenure of many clients.
Cosentus is a leading Business Services company that offers outsourced solutions in Medical Billing, IT, Accounting, Recruiting, Technology, and Marketing. Cosentus began its journey over 25 years ago as an RCM company at a time when medical practices were struggling to stay afloat due to low reimbursement rates, soaring patient deductibles, and inflated operation costs. Cosentus was born from the vision to provide a full suite of support services to physicians and dental practices: Revenue Cycle Management, to keep the practice thriving. Accounting & Tax, to handle the financials. Recruiting, to grow the practice. Marketing, to create awareness and attract patients. And IT, for optimal security monitoring and HIPAA compliance. Today, Cosentus offers complex solutions and services to businesses of all sizes. Through acquisitions and organic growth, Cosentus is now the one-stop shop for optimized business solutions driving high performance and delivering exceptional results.
The acquisition of Symed provides Cosentus access to the growing behavioral health and ophthalmology markets, over 15 cross trained consultants, cloud capabilities, and Symed’s proprietary ClaimsManagerPro, Trip ManagerPro and CredentialMyDoc modules. The modules provide claims management, transportation billing and credentialing capabilities.
Falcon served as the exclusive financial advisor to Symed. Falcon’s Managing Director Ted Stack writes, “Having known Symed’s CEO and Founder Arthur Roosa for number of years, Falcon was extremely honored and excited to have been entrusted to assist the business with its exit.” Arthur Roosa, CEO of Symed stated “Falcon played a critical role in helping us navigate a transaction that considered all our strategic objectives. We are excited to play an even bigger role in the world of RCM and healthcare consulting, with an expanded team that is poised to provide unmatched outcomes.”
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, Vice President, Don Wanner and Senior Associate, Steve Wasylenko. For more information, please contact Ted at email@example.com, or Don at firstname.lastname@example.org.