Quorum Health Corp. has sold its consulting arm to a healthcare-focused private equity firm in New York City, centering its core operations around building out its hospital system.
As part of the deal, which closed last week, Grant Avenue Capital is looking to build out Quorum Health Resources’ service offerings, which currently include resources for financials, supply chain, patient outbreak, clinical support, revenue cycle management and compliance and business solutions, among others.
Last year, the subsidiary purchased Resolution, bringing with it more than 70 employees focused on revenue cycle management.
QHR currently serves 105 hospitals across 40 states. The team will continue operating out of its Brentwood headquarters and providing supply chain and consulting services to Quorum’s 22-hospital network.
Quorum Health CEO Dan Slipkovich said the proceeds of the sale will go toward capturing increased market share in the health system’s existing locations through strategic acquisitions as patients volumes begin to recover from last year.
“This transaction positions QHC to refocus on our core operations,” Slipkovich (pictured) said in a press release. “The capital generated by the transaction will allow us to accelerate certain high priority projects and capital investment to expand health services in our existing markets and invest in new market opportunities. In addition, this transaction provides QHR Health with new resources and partnerships as they continue to serve the country’s independent community healthcare providers.”