IMA Consulting’s Merger with Revint Solutions

Cain Brothers served as financial advisor and Bass, Berry & Sims PLC served as legal counsel to IMA. Hughes Arrell Kinchen LLP served as legal counsel to Revint. Houlihan Lokey served as financial advisor and Ropes & Gray LLP provided legal counsel to New Mountain Capital.

IMA Consulting (“IMA”) and Revint Solutions (“Revint”) finalized the merger agreement of their respective businesses, creating a new, leading platform offering a full suite of technology-enabled revenue integrity and recovery solutions as well as complex revenue cycle management, consulting and interim management services for healthcare providers.

The combined business will provide a full suite of complex reimbursement solutions to over 1,500 healthcare organizations in the U.S. and helps recover over $150 million of underpaid or unidentified revenue for its clients annually. The combined company’s services will include transfer DRG, revenue recovery, DRG validation, zero balance underpayment recovery, complex revenue cycle, consulting, and interim management, among other solutions, offering a full revenue integrity “safety net” for all types of healthcare provider organizations.

The leadership teams of both IMA and Revint will continue to manage and grow the combined business. The combined company will build on the combined expertise, technology capabilities, and resources of both businesses to develop new technology-driven solutions that will deliver additional value to its customers.

The merger was facilitated by a majority investment from New Mountain Capital LLC (“New Mountain”), a growth-oriented investment firm that currently manages over $20 billion in assets. New Mountain emphasizes business building and growth and plans to provide the combined company with significant financial and strategic resources to support future growth initiatives. Revint was previously a portfolio company of Eir Partners, who, along with Management, will continue to hold significant stakes in the combined company.

The Ropes & Gray team was led by mergers & acquisitions partner John Sorkin (Picture), tax partner Adam Greenwood, finance partner Stefanie Birkmann, benefits partner Allie Alperovich, health care partner Tim McCrystal and private equity associate Ted Schmadeke

Involved fees earner: John Sorkin – Ropes & Gray; Ted Schmadeke – Ropes & Gray; Adam Greenwood – Ropes & Gray; Stefanie Birkmann – Ropes & Gray; Alexandra Alperovich – Ropes & Gray; Timothy McCrystal – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: New Mountain Capital;

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Author: Ambrogio Visconti