Acquisition to strengthen RevSpring’s role as leader in patient payment solutions and provide better patient experiences
LIVONIA, MI (March 3, 2020) – RevSpring, a leading provider of patient engagement and payment solutions, today announced it has acquired Loyale Healthcare in a combination that expands the company’s payment solutions and brings complementary capabilities to the customers of both organizations. RevSpring is a portfolio company of GTCR, a leading private equity firm.
“Loyale has built an impressive solution for their customers, differentiated by their commitment to delivering exceptional patient payment experiences that accelerate payments as they build loyalty,” said Scott MacKenzie, CEO of RevSpring. “We are excited to combine forces with the Loyale team and look forward to working side by side with them to deliver the great service and solutions that their clients, and their patients, have come to rely on.”
“We have admired RevSpring’s leadership and momentum in the healthcare business solutions and payments market, and share common values and perspectives on how to improve patient experience along with healthcare provider’s financial performance,” said Kevin Fleming, CEO of Loyale. “We are excited to accelerate our mission of leadership and innovation in patient financial engagement with a dynamic and highly skilled partner in RevSpring at our side.”
With this acquisition, RevSpring further strengthens its commitment to serving leading hospital systems and ambulatory providers, and further augments its leading digital communications and payments capabilities with Loyale’s suite of products. The combined companies will facilitate approximately $5.5 billion in payments collected through their systems on behalf of their clients.
Health Insight Capital, a subsidiary of HCA Healthcare, was an investor in Loyale prior to the acquisition. HCA Healthcare is a customer of both RevSpring and Loyale, with Loyale’s solutions deployed throughout its hospitals and employed physician clinics.
“The RevSpring team is committed to providing the premier patient payment solution in the market by providing easy payment options at every touchpoint,” said Steve Callis, president of payments at RevSpring. “Bringing the Loyale organization together with the RevSpring team, we believe the customers of the combined organization will realize an even greater ability to connect patients with the right payment options to increase payment performance.”
RW Baird served as financial advisor to RevSpring on the transaction, and Ziegler served as financial advisor to Loyale.
This is one of many important investments RevSpring is making in payments-related solutions, with additional announcements to be made at the 2020 HIMSS Global Health Conference & Exhibition on March 9–13, 2020, in Orlando. Healthcare providers are invited to visit booth #6479 or www.revspringinc.com/healthcare to see new capabilities from RevSpring that enable easy payments anywhere.
RevSpring leads the market in financial communications and payment solutions that inspire patients to pay. The company has built the industry’s most comprehensive and impactful suite of patient engagement, OmniChannel communications, and payment solutions backed by behavior analysis, propensity-to-pay scoring, contextual messaging, and user experience best practices. Using proprietary data analytics to tailor the engagement from pre-service to post-service, we improve the financial experience and outcomes for providers and their patients. To learn more, visit www.revspringinc.com/healthcare.
Loyale Patient Financial Manager™ is a comprehensive patient financial engagement technology platform leveraging a suite of configurable solution components including predictive analytics, intelligent workflows, multiple patient financing vehicles, communications, payments, digital front doors, and other key capabilities.
Loyale Healthcare is committed to a mission of turning patient responsibility into lasting loyalty for its healthcare provider customers. Based in Lafayette, California, Loyale and its leadership team bring 27 years of expertise delivering leading financial engagement solutions for complex business environments. For more information visit www.loyale.us.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications, and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire, and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $15 billion in over 200 companies. For more information, please visit www.gtcr.com.