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Clayton Associates is an investment firm passionate about building businesses. Here are our latest news and updates.

Medical Reimbursements of America Acquired by Riverside Partners

Jade Beazley

BRENTWOOD, TN – (February 15, 2017) – FCA Venture Partners V, LP (FCA V) announced today that its portfolio company, Medical Reimbursements of America (MRA), has been acquired by Riverside Partners, a Boston-based private equity firm.  Headquartered in Franklin, TN, MRA is a recognized leader in the rapidly growing field of specialty reimbursement services for hospital revenue cycle departments.  MRA leverages proprietary technology to help hospitals and health systems resolve complex motor vehicle and workers' compensation accident claims.  Additionally, through its Payment Integrity division based in Ft. Lauderdale, FL, MRA provides underpayment identification and recovery services that ensure Medicare and Managed Care claims are paid accurately and fully.

"I could not be more excited about the future of MRA as a result of this investment by Riverside Partners," said Bobby Rolfe, MRA's CEO for the past 4 years.  "Our team's customer-first attitude is the cornerstone of our success, and Riverside Partners' philosophy of empowering and supporting successful teams will enable each of our employees to continue their passion for serving our hospital customers."  In conjunction with the transaction, Mr. Rolfe and MRA President Lyle Beasley will remain involved with the company and continue their investment in MRA.  Mr. Rolfe will serve as a consultant to MRA and Mr. Beasley will continue serving on the company's board of directors. 

“FCA V is proud to have participated in the most recent funding of MRA in 2012.  Our belief in the proven track record of Bob Rolfe and Lyle Beasley, along with their management team proved to be a winning combination in growing the company to become a national leader in their field.”, said Matt King, co-managing partner of FCA Venture Partners.

FCA recently distributed proceeds from this sale to its Limited Partners.  This portfolio company exit provided an excellent return on capital invested and an IRR that exceeded industry norms.  FCA management believes this is a good indication of the overall performance of the fund. 

“FCA has a proven record of investing in companies that make a process faster, better, cheaper in healthcare.  We were very pleased with the outcome of this investment and are equally excited about our remaining portfolio companies in FCA V and the investments we are making out of our newest fund, FCA VI,” said John Burch, co-managing partner of FCA Venture Partners.

 

 

About MRA

Medical Reimbursements of America (MRA) provides specialty reimbursement solutions that identify and recover additional revenue for hospitals and health systems nationwide. MRA's AcciClaim™ solution, led by the industry's leading team of specialized attorneys, revenue cycle experts and account resolution specialists, delivers improved revenue, increased patient satisfaction, and enhanced billing compliance from complex claims related to motor vehicle accidents and workers' compensation injuries. In addition, MRA's Payment Integrity solution provides underpayment identification and recovery services from both Medicare and Managed Care claims. Founded in 1999 and based in Franklin, Tennessee, MRA proudly serves as a definitive source for specialty reimbursement services for more than 500 hospitals and health systems nationwide. For more information, please visit www.mraresults.com.

 About Riverside Partners

Founded in 1989, Riverside Partners is a middle market private equity firm currently investing out of its fifth fund. The fund focuses on growth-oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. Today, Riverside Partners manages about $850 million of equity capital and seeks to make investments in companies with revenues between $20 and $200 million and with $5-$25 million of EBITDA. For more information, please visit www.riversidepartners.com.