Navicure, a Duluth, Georgia-based provider of cloud-based claims management and patient payment solutions for physician practices and hospitals, received a strategic investment from Bain Capital Private Equity.
Selling shareholders in the deal, whose financial terms were not disclosed, include JMI Equity and other minority investors.
Following the close of transaction, expected in July 2016, Navicure will continue to be led by current CEO and founder James M. Denny, Jr. and his executive team, who will retain a meaningful interest in the business.
Navicure provides healthcare organizations of all sizes with a subscription-based revenue cycle management platform that automates account receivables processes, including claims management; patient eligibility verification; remittance and denial management including automated secondary claims filing, appeals, and posting; reporting and analysis; and patient payment collections at and near the time of service.
The company currently serves more than 90,000 healthcare providers.