JP Recovery Services Merges with Healthcare Revenue Cycle Leader Meduit
FOR IMMEDIATE RELEASE: Philadelphia, PA 12/11/2022: Hospital revenue cycle management in the 48 continental United States just got more robust thanks to the merger of JP Recovery Service (JPRS) and Meduit, two leading healthcare revenue cycle solutions companies.
JP Recovery Services—represented in this merger by Corporate Advisory Solutions (CAS)—has been in business for over 25 years. At the time of sale, the company provided accounts receivables management, billing and extended business office (pre-collect) services to over 70 hospitals, physicians groups and private practices across the U.S.
Meduit is the largest healthcare RCM firm in the country (as ranked by Modern Healthcare, 2022). They are regarded as a leader in state-of-the-art accounts receivable management with advanced technologies and an experienced patient-focused team that drives financial resilience for healthcare providers. This merger will now bring JPRS services and expertise to the more than 1,000 hospitals and physician practices Meduit already serves in 48 states.
“The owners at JP Recovery Services knew the importance of creating greater growth opportunities for the company moving forward,” said Nick Ciabattone, Director at CAS. “We assisted them in assessing the market, identifying motivated buyers and working through the sales process to a successful conclusion. I am grateful for the opportunity to work with the owners and their team on this engagement.”
According to Mark Russell, Managing Partner at CAS, “This transaction is a win-win for both companies. It represents an ideal situation whereby a seller is rewarded for their years of hard work and commitment to their clients and staff, and the buyer is acquiring a great business with a strong team and future growth potential.”
“It is a great honor for JPRS to join the Meduit family, and I am proud of all that we have accomplished,” said John Beirne, Co-owner of JPRS. “Because of this merger, our clients will benefit from expanded revenue cycle solutions which they’ve not had available to them before.”
Corporate Advisory Solutions (CAS) is an independent investment and merchant banking firm based in Philadelphia and Washington, D.C., specializing in M&A, valuation and strategic advisory services for the Global Outsourced (tech-enabled) Business Services (OBS) sector. Our core markets include Accounts Receivable Management (ARM), Revenue Cycle Management (RCM), and Customer Relationship Management (CRM). The CAS team brings over 40 years of combined M&A, valuation and strategic advisory experience to every engagement, and its members have successfully completed over 130 transactions representing more than $1.5 billion in deal value within these core markets.