Revint Solutions, a Chadds Ford-based firm that specializes in medical-payment collections, said Tuesday it is acquiring Naveos, a Virginia firm focused on “government reimbursement technology and services for healthcare providers.”
Revint clients include “over 200 health systems across 48 states,” including some of the largest hospital systems in Pennsylvania and New Jersey, according to Hicok, who declined to name specific clients. Revint claims 1,500 clients in total, and says it “helps recover over $150 million of underpaid or unidentified revenue” for them annually.
The deal is the second by Revint since December, when New Mountain Capital, a New York investment firm, bought control of Revint from Eir Partners, which remains a minority investor. The companies haven’t said what the buyer paid. New Mountain typically invests at least $100 million in the firms it targets. Its current investments are valued at a total of $20 billion.
Also in December, New Mountain merged Revint, which had been based in Chicago, with IMA Consulting, a medical-collections firm based in Chadds Ford since 1996.
With New Mountain’s cash and support, the IMA and Revint teams planned to “create the leader in revenue integrity solutions, advanced revenue cycle management, and consulting services,” IMA co-managing partners Kim Hollingsworth and Tony Scarcelli said in a statement at that time.