Navicure, a provider of cloud-based claims management and patient payment solutions for physician practices and hospitals, has secured a strategic investment from Bain Capital Private Equity. Financial terms of the private transaction have not been disclosed.
Navicure, which is headquartered in Duluth, Georgia, will continue to be led by current CEO and founder, James M. Denny, Jr. and his executive team. They will retain a meaningful interest in the business. Selling shareholders include JMI Equity and other minority investors.
Navicure’s subscription-based software solutions help healthcare organisations of all sizes increase revenue, accelerate cash flow, and reduce the costs associated with managing insurance claims and patient payments. Serving more than 90,000 healthcare providers nationwide, Navicure’s integrated revenue cycle management platform automates accounts receivable processes, and assures timely and accurate billing and collection from payers and patients. The Company’s solutions help healthcare providers effectively handle claims management, patient eligibility verification, remittance and denial management, appeals, posting, reporting and analysis, and patient payment collections at and near the time of service.
Denny, who founded the business in 2001, said about the partnership: “We are proud that Navicure, for over 15 years, has helped thousands of healthcare organisations from large health systems to solo practices improve their financial results with less effort through the use of our SaaS-based solutions. Their success is our success. We remain committed to our mission of developing innovative solutions that enable our clients to stay one step ahead. We believe the resources and experience of Bain Capital Private Equity give us an important advantage as we continue to grow our business and deliver an even wider array of differentiated solutions to our clients.”
