Aspirion Health Resources announces combination with ARx
COLUMBUS, Ga. & FRANKLIN, Tenn.–(BUSINESS WIRE)–Aspirion (the “Company”), a leader in technology-enabled healthcare revenue cycle management, today announced that it has partnered with ARx, a trusted systems partner hospitals to help collect their most difficult reimbursements. As part of the announcement, the ARx team will continue to be led by CEO Bill Chace. The combination closed on March 22, 2022. Terms of the agreement were not disclosed.
The addition of ARx will further strengthen Aspirion’s strong position in the Aged Accounts Receivable Collections market and provide the company’s hospital system customers with expanded capabilities to support a wider range of complex credit cycle solutions. income. The companies’ shared vision and cultural synergy that focus on customer centricity, innovation and delivering superior results will facilitate optimal revenue recovery performance and financial success for their healthcare provider partners.
“Today’s announcement illustrates Aspirion’s commitment to expanding our support for the most challenging reimbursements in US hospital systems and our execution against our goal to continually expand our capabilities and reach in this vertical” , said Jason Erdell, CEO of Aspirion. “What impressed us most with ARx was how their customers spoke about the support they received. It was clear that we share very similar values, and they consistently deliver a top-notch level of service. range that is at the heart of everything we do. ARx’s obsession with providing an experience customers couldn’t find elsewhere and complementary offerings make this deal align with our strategy.”
“The combination of ARx and Aspirion brings new strategic capabilities to the business that are critical to the ever-changing dynamics of revenue cycle management,” said Geoff White, Founder of ARx. “We look forward to leveraging the expertise of the Aspirion team and bringing our own knowledge of revenue cycle management to advance the organization in a purposeful and revolutionary way for our employees, our customers and the communities they serve.”
“Labour market challenges and reimbursement scrutiny are generating unprecedented market demand to support America’s health care systems in many areas, especially in areas farther from the heart of care delivery,” said Kevin Barrett, Chairman of the Board of Aspirion. “The combination of Aspirion and ARx capitalizes on this compelling opportunity to bring even greater revenue cycle capabilities to the market.”
This is Aspirion’s fifth transaction in the past four years and further expands the services the company offers to its customers. The Company’s mergers and acquisitions and strategic partnership plan are complemented by a track record of winning new customers and expanding services to existing customers. This is evidenced by the fact that the company received this year’s Best in KLAS award for Revenue Integrity Providers. As an independent research company, KLAS Research states that it has provided accurate, honest, and unbiased information for the health informatics (HIT) industry since 1996.
Aspirion was advised by McDermott Will & Emery LLP, Grant Thornton LLP, Lockton Companies LLC, Opus Advisory and OneDigital. ARx was advised by Waller Lansden Dortch & Davis, LLP and Brentwood Capital Advisors served as exclusive financial advisor to ARx.
Aspirion helps hospitals and physicians recover claims revenue otherwise lost to motor vehicle accidents, workers’ compensation, Veterans Administration and Tricare, and out-of-state Medicaid. status, Medicaid eligibility, underpayments, and denials. Aspirion’s experienced team of healthcare, legal, and technical professionals, combined with industry-leading technology platforms, help ensure providers receive their revenue from complex RCMs so providers, hospitals, and their staff can focus on patient care. Aquiline Capital Partners is the majority shareholder of Aspirion. To learn more about Aspirion, please visit www.aspirion.com.
About the ARx
ARx is a revenue cycle management company dedicated to improving the financial performance of revenue cycle management for healthcare providers. The company was founded in 1997 and has more than 100 healthcare professionals on staff who help resolve complaints from their hospital customers and suppliers. ARx is headquartered in Franklin, TN. To learn more about ARx, please visit www.arxhealthcare.com.
About Aquiline Capital Partners LLC
Aquiline Capital Partners, founded in 2005, is a private investment firm based in New York and London that invests in companies in the financial services and technology, business services and healthcare sectors. The company had $7.5 billion in assets under management as of December 31, 2021. For more information about Aquiline, its investment professionals and portfolio companies, please visit www.aquiline.com.