CAS Facilitates Seamless Acquisition of Healthcare Assets

Corporate Advisory Solutions (“CAS”) is pleased to announce the successful completion of the acquisition of “Project Heat,” a group of healthcare assets from New York-based CCMR3 by Professional Credit, a Tonka Bay partner company. CAS acted as the exclusive sell-side M&A advisor to CCMR3 in this transaction.

The acquisition expands Professional Credit’s market presence outside the Pacific Northwest into New York, Iowa, and Arizona as well as additional business in nine other states. “Project Heat” represents Professional Credit’s first add-on acquisition. Terms of the transaction were not disclosed. 

About Tonka Bay

For more than 25 years, Tonka Bay has specialized in expanding and enhancing businesses. Focusing on growth-driven companies, Tonka Bay actively acquires and invests in enterprises within the sectors of highly engineered manufacturing, value-added distribution, and business services.

About Professional Credit

Founded in 1933, Professional Credit specializes in accounts receivable management services offering two dedicated service lines: Professional Credit collections and Ensource, which offers scalable solutions for revenue cycles. The company distinguishes itself in the market through its commitment to leveraging advanced technology and scientific approaches to meet client requirements. This dedication to offering financial services centered around the consumer has been instrumental in strengthening the relationships between clients and consumers.

About CCMR3

Established in 2013 and based in Syracuse, New York, CCMR3 delivers technology-driven revenue recovery solutions, debt purchasing, and litigation services. Tailored for businesses seeking empathetic engagement, compliance expertise, and superior revenue recovery performance, CCMR3 employs cutting-edge analytics and machine learning. This blend of advanced technology with a client-centric service model enables CCMR3 to assist diverse industry organizations in safeguarding their brands and enhancing financial outcomes.

About Corporate Advisory Solutions

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, exit prep, and strategic advisory experience to every engagement, and its members have successfully completed over 140 transactions representing more than $2.5 billion in deal value within these core markets. 

Visit our website: Corporate Advisory Solutions 

CAS publishes a quarterly newsletter which highlights deal activity and macroeconomic trends within the OBS sector: 2023 CAS Year in Review 

Securities conducted through Finalis Securities, LLC. Member FINRA/SIPC

Media Contact

For media inquiries, please contact: 

Pat Felstedt 

Senior Analyst, Corporate Advisory Solutions

[email protected]

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