National Medical Billing Services Announces Acquisition of MedTek
ST. LOUIS, Oct. 25, 2022 /PRNewswire/ -- National Medical Billing Services ("National Medical"), an industry leading healthcare revenue cycle management ("RCM") company serving the surgical market, has acquired MedTek, LLC ("MedTek" or the "Company"), a leading provider of RCM solutions to ambulatory surgery centers ("ASCs"), hospitals, clinics, and specialty groups nationwide. This partnership will further enhance National Medical's position as the complete end-to-end provider of outsourced revenue cycle solutions serving ASCs, surgical practices, and anesthesia groups. It also marks National Medical's fourth transaction since its January 2021 partnership with Aquiline Capital Partners, a private investment firm based in New York and London with $9.6 billion in assets under management.
"We are constantly evaluating strategies to add value for clients, and we are ecstatic to partner with the MedTek team to further expand our offering," said Nader Samii, National Medical's CEO. "MedTek brings unmatched, ASC-specific medical transcription, surgical coding, and related revenue cycle software and services, which are all extremely complementary to National Medical's existing portfolio. By combining our organizations, we're able to further enhance our client's financial profile by improving their working capital position while maximizing reimbursement – simply put, without sacrificing compliance, we want our clients to get paid more, and get paid faster."
Founded in 2001 and headquartered in Woodland Hills, CA, MedTek provides ASCs nationwide with revenue cycle solutions including medical transcription, coding, billing, and related software products. The Company's transcription offering includes a state-of-the-art mobile app and 24/7/365 customer support; MedTek also employs 100+ surgical coders operating through a comprehensive management tool and interactive dashboard – the combination of its transcription and coding offering results in industry-leading turnaround times. Supplementing its revenue cycle services, MedTek has developed its EZSuite software products, which include tools to facilitate chart management, patient admittance, patient scheduling, and provider credentialing. As a testament to the quality of its solutions, MedTek's client base includes some of the most prominent ASC organizations and spans nearly 50 states, making MedTek one of the largest outsourced revenue cycle solution providers dedicated to serving the ASC community.
"MedTek has worked tirelessly to develop its medical transcription, coding, and software solutions to specifically cater to the needs of individual ASCs and ASC management companies, and we're ecstatic to partner with National Medical, the premier brand in surgical RCM," said Manny Singh, CEO of MedTek.
"This combination is a natural extension of our ongoing efforts to provide our clients with a true end-to-end RCM solution, and believe the future is bright for National Medical to further its position as the preeminent partner for all outsourced RCM solutions in the surgical marketplace," added Sandy Seth, President of MedTek.
Neal, Gerber & Eisenberg and Ropes & Gray LLP served as legal counsel to National Medical. Lincoln International served as the exclusive financial advisor to MedTek for this transaction and Proskauer Rose LLP served as legal counsel to the Company.
National Medical Billing Services is a national healthcare revenue cycle management company with a sophisticated, boutique-like approach to operational delivery and client services. As the largest and most experienced provider of outsourced RCM services focused on the surgical market, National Medical serves hundreds of ASCs, surgical practices, and anesthesia groups. National Medical's team of surgical professionals build enduring client relationships through consultation, trust, and commitment to excellence. As a result, clients experience specialized and dedicated direction that maximizes revenue while adapting to and overcoming industry challenges and changes. National Medical also provides its clients with industry insights, education, and analytics to enable them in rendering the best business decisions possible. For more information about National Medical Billing Services, please visit www.NationalASCBilling.com.
Aquiline Capital Partners, founded in 2005, is a private investment firm based in New York and London investing in companies across financial services and technology, business services, and healthcare industries. The firm has $9.6 billion in assets under management as of June 30, 2022. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit www.aquiline.com.
SOURCE National Medical Billing Services
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