Firmament Facilitates Merger of e4 and Intellis, Forming Healthcare RCM and IT Industry Leader

NEW YORK, Sept. 27, 2022 /PRNewswire/ -- Firmament, a leading provider of structured equity capital solutions to small- and medium-sized enterprises, announced today a majority growth equity investment into e4 Services ("e4" or the "Company") in support of its merger with Intellis. e4 provides healthcare consulting and professional services to hospitals and healthcare systems across the United States, specializing in revenue cycle management (RCM) and information technology (IT) services, including health information management (HIM), coding, clinical documentation integrity (CDI), and complex project management. Intellis provides HIM, coding, CDI, and auditing services to U.S. hospitals and healthcare systems. Post-transaction, Intellis will be rebranded to "Intellis, an e4 company."

The combination of the two companies creates the nation's leading provider of HIM and coding solutions, with a twenty-year history partnering with hundreds of organizations across the healthcare ecosystem. The management teams of both companies will continue with the business, and e4's Jim Hennessy will serve as CEO of the combined company. 

Hennessy commented, "The merger of e4 and Intellis creates a unique industry leader within the HIM, coding, and healthcare IT verticals. Like e4, Intellis has a long history of placing customer satisfaction above all else. We could not be happier to merge with such a reputable organization that shares our same values, and we look forward to accelerated growth together." Hennessy also commented on e4's partnership with Firmament stating, "We have been partners with Firmament for over two years and are pleased to deepen our relationship together. Their team has proven to have not only a strong understanding of the healthcare industry but also a genuine desire to work closely with us to achieve our goals and grow our business."

Intellis co-founder David Van Doren added, "The combination of e4 and Intellis creates a holistic service provider to healthcare systems across the country, delivering a one-stop shop to healthcare executives looking to improve their HIM, coding, and IT functions and infrastructure. We have known the e4 team for years and are already comfortable working as a team to optimize customer experiences and accelerate our growth trajectory."

Green Campbell, Vice President at Firmament stated, "Healthcare providers across the country are battling tightening labor markets and rising wages, making hiring and maintaining internal staff increasingly difficult. e4 and Intellis provide healthcare experts with a proven track record of delivering exceptional results to some of the country's largest healthcare systems. Both the e4 and Intellis founders and management teams have built outstanding businesses, and we are excited to partner with them as they enter their next phase of growth."

Parris Boyd, Partner at Firmament added, "Both e4 and Intellis have established themselves as leading service providers to mission-critical parts of the healthcare industry. We are proud to continue our relationship with e4 and to establish a new partnership with Intellis."

e4 (www.e4-services.com) provides healthcare consulting and professional services to hospitals and healthcare systems across the United States, specializing in revenue cycle management and information technology services, including health information management, coding, clinical documentation integrity, and complex project management.

Intellis (www.intellisiq.com) provides coding, health information management, clinical documentation integrity, and auditing services to U.S.-based hospitals and healthcare systems.

Firmament (www.firmament.com) provides structured equity capital solutions to small- and medium-sized enterprises. Firmament is a value-added partner to entrepreneurs, management teams and business owners and curates solutions by deploying versatile capital in a user-friendly way. Firmament concentrates on software and services businesses with significant scaling potential in the healthcare, logistics, wellness and environmental sectors. With offices across the United States and in the United Kingdom, Firmament is focused on turning small business into big business.

Contact: Allie Reitman, [email protected]

SOURCE Firmament