The health care revenue cycle company AccuReg, which has an office in Franklin, has bought out a minority partner, and now has full ownership of the business.
AccuReg, based in Alabama, bought out the health and tech investment firm Eastside Partners, which has offices in Huntsville, Ala., and Atlanta, Ga.
Eastside Partners primarily invests in software, tech and health care companies in the Southeast. The companies didn’t disclose the terms of the deal.
Eastside first invested in AccuReg in 2014. The company typically invests between $4 million and $10 million. The firm usually holds a minority stake and is an active investor, offering operating expertise.
AccuReg secured a loan from Dallas-based Elm Park Capital Management for the buyout. Part of the loan will also be used to fuel the company’s expansion. In a press release, CFO/COO Ian Whelan noted that the money would be used for product development and strategic acquisitions.
“Restoring full ownership of AccuReg brings new alignment and energy to our core mission to transform how patients access care and how providers get paid. This clears the path for our deeply experienced team to focus on the front-end of the revenue cycle to ensure our hospital and health system partners continue to increase net patient revenue,” AccuReg CEO Paul Shorrosh said, according to a press release.
Revenue cycle management companies such as AccuReg help hospitals identify, manage and collect revenue from treating patients. The company claims that helps hospitals reduce costs, maximize revenue and enable price transparency.
AccuReg opened its first office in Nashville four years ago. The company moved its Nashville office to Cool Springs in September.