ORIX Ventures helps support AdvantEdge Healthcare Solutions’ acquisition of Hill Associates
AdvantEdge Healthcare Solutions, one of the nation’s leading providers of comprehensive healthcare financial management solutions including medical billing, practice management, and coding services for specialty physicians, hospitals, and surgery centers, has acquired Hill Associates, a New Hampshire-based medical billing company. Hill Associates is a leading provider of billing services and software to the behavioral health industry, and is a natural complement to AdvantEdge, which has expanded its strong footprint to include the behavioral health specialty through this partnership.
“As the link between physical and behavioral health is becoming more apparent, hospitals and health systems are integrating with behavioral health facilities and looking for companies that can provide services to meet enterprise-wide needs,” said David Langsam, President and CEO of AdvantEdge. “Hill Associates is a leading provider of billing services in behavioral health, making it the perfect fit for AdvantEdge as we continue to execute our company’s growth plan. Our partnership with Hill will help us further expand our services to assist behavioral health organizations throughout the U.S.”
“AdvantEdge and Hill Associates share the same commitment to collecting the most money in the most expedient manner on behalf of our customers,” said Alan Hill, President of Hill Associates. “The strategic decision to align our company with AdvantEdge, a growing and innovative leader in the field, was about expanding our resources to enhance that commitment. AdvantEdge has extensive experience with physical health claims processing; developing interfaces with a variety of EMRs, clinical information platforms, and other systems; as well as sophisticated business analytics and reporting tools. These resources will be applied to benefit our behavioral health customers. By serving our growing customer base under the AdvantEdge banner, we’ll be able to strengthen our combined range of services, resources, and expertise.”
Hill Associates will be the “Center of Excellence” for AdvantEdge’s expanding behavioral health business.
ORIX Ventures provided AdvantEdge with senior financing to complete this transaction. “ORIX worked immediately to facilitate our acquisition of Hill Associates and we are pleased to have ORIX as a trusted lender,” said Langsam. Jeff Bede, Principal in ORIX Venture’s Washington, D.C. office said, “ORIX Ventures is excited to continue to support AdvantEdge’s growth strategy. We have backed AdvantEdge on multiple acquisitions and are believers in the management team and their proven ability to execute on their acquisition and integration strategy.”