Apex Revenue Technologies (“Apex”) announced today that WestView Capital Partners (“WestView”) has exited its investment in the company as part of Apex’s merger with RevSpring, a portfolio Company of GTCR. Following the closing, GTCR will be the majority shareholder with substantial ownership held by management of the combined companies. Apex, a leader in healthcare technology solutions that improve financial outcomes by providing insight into how patients pay, was founded in 1995 and completed a majority recapitalization with WestView in December 2013. RevSpring, founded in 1981, is a leader in patient communication and payment systems for acute and ambulatory healthcare providers. The newly combined company will provide intelligent multi-channel patient engagement and payments solutions.
Apex’s industry leading cloud-based software promotes patient financial engagement, streamlines patient billing processes and reduces the cost to collect from patients. The Company’s award-winning Apex Connect™ platform dynamically tailors financial communications and payment options to match healthcare provider goals with the needs of the patient for better results. The Apex solution combines a broad range of electronic payment, print & mail, messaging and analytical services to more than 15,000 locations across the US. Apex was founded by CEO, Brian Kueppers, to combat the growing challenges that patients face trying to understand their healthcare bills and payment requirements.
“It has been a great partnership with WestView. Their industry relationships, strategic guidance and financial support have been instrumental to our growth and development,” said Brian Kueppers. “We are excited to combine with RevSpring and GTCR to continue to provide our customers with industry leading solutions.”
“We are extremely proud of our association with Brian and the entire Apex team. Their passion and drive have helped them build a market leading company and we are proud to have played a part in their development,” said John Turner, General Partner at WestView.
“Apex management’s foresight on the evolution of patient financial engagement enabled the Company to become a category leader and drive tremendous growth and value creation during our time together” added Matt Carroll, General Partner at WestView. “We look forward to seeing what the combined entity can accomplish.”
WestView and Apex Revenue Technologies were advised by Robert W. Baird & Co., Duff & Phelps Corporation and Latham & Watkins LLP on this transaction.
About Apex Revenue Technologies
Founded in 1995, Apex Revenue Technologies is the leader in healthcare technology solutions that leverage insight into how patients pay to improve financial outcomes for providers and patients. Apex’s innovative approach promotes patient financial engagement by personalizing the patient financial experience to increase payments, control costs and improve the patient experience. The Company’s award-winning, cloud-based Patient Financial Engagement platform was built from the ground up to provide a seamless experience for patients and flexible, flawless execution for the Company’s clients. The Apex solution combines a broad range of electronic payment, print & mail, messaging and analytical services.
Apex serves more than 15,000 locations across the US, both directly and through a strong partner network.
About WestView Capital Partners
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in industries such as healthcare technology and outsourcing, business services, software and IT services, consumer, and growth industrial. WestView invests in companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $60 million. For more information, please visit www.wvcapital.com.