Houlihan Lokey is pleased to announce the acquisition of Medical Reimbursements of America, Inc. (MRA) by Riverside Partners, LLC. The transaction closed on February 13, 2017.
MRA is a leading provider of accident claims management and payment integrity solutions that identify and recover additional revenue for more than 500 hospitals and health systems nationwide. The company's technology-enabled accident claim management solution, AcciClaim, identifies and recovers alternative sources of payments for accident-related hospital bills. Its benefits include improved reimbursement rates, billing compliance, and increased patient satisfaction. The company's payment integrity solution detects underpayments from government and managed care payers, and its team, with more than 15 years of experience as RAC auditors and analysts, brings a payer-facing perspective necessary to understand the intricacies of today's systems.
Founded in 1989, Riverside Partners is a Boston-based private equity firm that invests in growing middle-market healthcare and technology-oriented companies. Riverside Partners is currently investing Riverside Fund V, L.P., a $561 million equity fund, and typically invests in companies with revenues between $20 million and $200 million.
The sale of MRA represents another successful transaction for Houlihan Lokey in the healthcare revenue cycle management (RCM) sector. The transaction is one of four healthcare RCM transactions Houlihan Lokey has advised on during the past 12 months.
Houlihan Lokey's Healthcare Group is a recognized leader in M&A advisory and capital-raising services, providing advice to healthcare services, managed care, senior housing, biopharmaceutical, and life sciences companies. With more than 35 investment bankers in Chicago, Dallas, and New York, Houlihan Lokey's Healthcare Group is among the largest dedicated healthcare investment banking groups in the country. In 2016, the group closed 41 transactions and was ranked the No. 1 advisor for all U.S. Healthcare M&A transactions by Thomson Reuters. Houlihan Lokey's Healthcare Group has closed more than 300 M&A healthcare transactions since inception.