Edgewater acquires MedData
Edgewater Growth Capital Partners IV, L.P. is pleased to announce that its newly formed portfolio company RCM Holdings, LLC (“RCM” or the “Company”) has recently completed the acquisition of revenue cycle management services company MedData from parent company, MEDNAX, Inc. (NYSE:MD). The Company will be led as CEO by experienced industry executive Mike Shea, who previously partnered with Edgewater to create Bolder Healthcare Solutions (“BHS”), a diversified provider of revenue cycle management services to hospitals and physicians. Edgewater successfully exited its investment in BHS in 2018 through a strategic sale. Prior to founding Bolder Healthcare Solutions, Mr. Shea was the founder and CEO of MedAssist, a leading provider of outsourced patient eligibility services to hospitals.
MedData is a national provider of technology-enabled revenue cycle management solutions for hospitals, health systems and healthcare providers. MedData provides eligibility and enrollment services, complex AR services, patient responsibility services, billing and coding.
MedData is actively targeting acquisitions of niche revenue cycle management companies to augment its service offering and geographic presence.