New York-based private investment company Aquiline Capital Partners in the US has made a ‘majority’ investment in Health Prime International, a revenue cycle management (RCM) solutions provider for physician practices.
This investment is expected to bolster Health Prime's growth trajectory while allowing the company to boost its capabilities and services.
Aquiline Capital, which mainly makes strategic investments across healthcare, financial services and related technologies, has over $10bn in assets under management as of 30 September 2023.
It did not financial specifics about the latest transaction.
Established in 2004, Health Prime has a presence in the US, India, Costa Rica, and the Philippines.
The company, based in National Harbor, Maryland, has a staff strength of over 3,500. It serves more than 800 physician groups across 50 specialities, providing a suite of tailored RCM solutions.
Health Prime also offers comprehensive end-to-end services via a multi-shore delivery model along with different proprietary technology suites, including Prime Datalytics and workflow automation applications Prime Link and Prime Flow.
Prime Flow and Datalytics technologies, compatible with nearly all electronic medical records (EMRs), deliver insights for healthcare practices.
Health Prime CEO Pranil Vadgama 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.”
For this transaction, Guggenheim acted as the lead financial advisor for Aquiline, with additional advisory support from Lincoln and Rothschild. Ropes & Gray was Aquiline's legal advisor for the deal.
The deal was supported by unitranche debt financing from AB Private Credit Investors.
Meanwhile, TripleTree served as Health Prime’s financial advisor for the transaction.
Aquiline partner Benedict Baerst said: “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.”
