Aquiline Capital Partners Announces Partnership with Health Prime

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Feb 05, 2024, 08:00 ET

NEW YORK, Feb. 5, 2024 /PRNewswire/ -- Health Prime International ("Health Prime" or "the company"), a provider of revenue cycle management ("RCM") solutions for physician practices, announces that Aquiline Capital Partners LP ("Aquiline") has made a majority investment. Aquiline is a private investment firm, investing in financial services and related technologies, with over $10 billion in assets under management as of September 30, 2023.

Founded in 2004, Health Prime provides tailored RCM solutions to over 800 clients across 50 specialties. The company offers comprehensive end-to-end services through a multi-shore delivery model that differentiates it from peers. Health Prime's proprietary Datalytics and Prime Flow technologies are compatible with nearly all EMRs, generating valuable insights and driving powerful results for healthcare practices. The company has completed 4 acquisitions since 2019 and is well-positioned to continue to execute strategic M&A.

Pranil Vadgama, CEO at Health Prime, said: "We are excited to continue our growth trajectory with the support of Aquiline. Their deep network and experience within healthcare technology will be invaluable as we work together to achieve our long-term goals. This investment is not just a change in sponsorship but a strategic move to accelerate Health Prime's growth and services."

Benedict Baerst, Partner at Aquiline, said: "Effectively navigating the complexities of revenue cycle management is becoming increasingly critical for providers in today's healthcare ecosystem. Health Prime's unique tech-enabled delivery model has consistently produced successful outcomes for its clients. We look forward to partnering with Pranil and the Health Prime management team to execute our collective vision for the business."

Guggenheim served as Aquiline's lead financial advisor, alongside Lincoln and Rothschild. Ropes & Gray served as Aquiline's legal advisor. AB Private Credit Investors provided the unitranche debt financing to support the transaction.

TripleTree served as financial advisor to Health Prime.

Notes to editors

About Health Prime

Health Prime is a provider of powerful revenue cycle management solutions to physician groups across a variety of specialties. The company's proprietary technology suite includes financial reporting tool Prime Datalytics and workflow automation applications Prime Link and Prime Flow. Health Prime was founded in 2004, headquartered in National Harbor, MD and has more than 3,500 employees in the United States, Costa Rica, India, and the Philippines.

About Aquiline Capital Partners

Aquiline Capital Partners LP is a private investment firm based in New York, London, Philadelphia, and Greenwich, Connecticut, that invests across financial services, healthcare, and technology. For more information about Aquiline, its investment professionals, and its portfolio companies, visit www.aquiline.com.

SOURCE Aquiline Capital Partners LP