Boston, MA , August 3, 2022– Riverside Partners, a Boston-based private equity firm, announced today that its portfolio company Revecore has acquired Kemberton and Cura Revenue Cycle Management, two specialized revenue cycle management firms. Revecore is a leading provider of revenue integrity and complex claims solutions for hospitals and health systems.
Over the course of Riverside Partners' investment, Revecore has grown substantially, expanding its service offerings, technology platform, and geographic presence. The acquisitions of Kemberton and Cura further this business transformation and advance Revecore’s mission to be the clear leader in resolving complex claims and reimbursement challenges for health systems. The union of Revecore, Kemberton, and Cura creates a leading specialized revenue cycle management platform serving hospitals across the country.
In addition to Riverside Partners, Revecore is now supported by GrowthCurve Capital, which completed its acquisition of Revecore in April 2022. Riverside Partners continues to be a significant investor in the business alongside GrowthCurve and management.
"We are thrilled to support the combination of Revecore, Kemberton, and Cura alongside GrowthCurve,” said David Belluck, a General Partner at Riverside Partners. “The goal in combining Revecore with Kemberton and Cura is to create an industry leader that will provide best-in-class solutions for its customers. The acquisitions provide additional scale, service offerings, and technology capabilities and they strengthen Revecore’s industry leadership.”
“With the closing of the acquisitions, we are bringing together three companies that share a customer-focused vision and commitment to providing industry leading technologies and services to resolve hospitals’ most complex reimbursement challenges,” said Max Osofsky, a General Partner at Riverside Partners. “Kemberton and Cura add complementary technologies and expertise to Revecore that is very compelling and will unlock greater opportunities to deliver best-in-class solutions to its customers.”
Revecore, Riverside Partners and GrowthCurve were advised by TripleTree as financial advisor; McDermott Will & Emory, Davis Polk and Choate Hall & Stewart as legal counsels; and Alvarez & Marsal as financial and operational advisor. Cura was represented by Robinson+Cole, and Kemberton was represented by Goodwin Proctor.
The goal in combining Revecore with Kemberton and Cura is to create an industry leader that will provide best-in-class solutions for its customers. The acquisitions provide additional scale, service offerings, and technology capabilities and they strengthen Revecore’s industry leadership David Belluck General Partner
About Revecore
Revecore, is a leading provider of (i) revenue integrity solutions for underpayments and denial prevention and (ii) complex claims reimbursement solutions for motor vehicle accident, workers’ compensation and Veterans Affairs claims. Revecore serves nearly 1,200 hospitals across the country, offering hospitals and health systems over two decades of unrivaled technology and expert insight into the most challenging areas of revenue cycle to ensure they are appropriately reimbursed for the care they provide. In addition to being #1 Ranked in Complex Claims by KLAS, Revecore holds the distinguished HFMA Peer Review Status for underpayment recovery and complex claims solutions. For more information, please visit www.revecore.com.
About Kemberton
Kemberton is a specialized revenue cycle management firm dedicated to improving complex claims reimbursement by deploying a dedicated team of technology-enabled experts that advocate for every patient. Serving more than 400 hospitals and processing more than one million claims per year, Kemberton's distinct combination of expert trained claims resolution advocates, advanced workflow automation technology, and proprietary payer search engine offers an impressive and comprehensive end-to-end model for success. For more information, please visit www.kemberton.net.
About Cura Revenue Cycle Management
Cura Revenue Cycle Management is a specialized provider of underpayment recovery services to healthcare providers. Through the application of unique, proprietary technology solutions and deep industry expertise, Cura RCM solves complex revenue cycle challenges delivering collections in excess of $4 billion of reimbursement for over 1,000 hospitals. For more information, please visit www.curarcm.com.
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing out of its sixth fund. The firm focuses on growth-oriented companies in the technology and healthcare industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. Today, Riverside Partners manages about $1.1 billion of equity capital and seeks to make investments in companies with EBITDA between $3 and $15 million. For more information, please visit www.riversidepartners.com.
About GrowthCurve Capital
GrowthCurve Capital is a private equity firm focused on building world-class businesses by leveraging data, analytics, and machine learning, combined with a comprehensive approach to human capital, to accelerate growth and drive value creation. Founded by Sumit Rajpal, former global co-head of the Goldman Sachs Merchant Banking Division, the firm focuses on control-oriented private equity investments primarily across the financial and information services, healthcare, and technology sectors. For more information, please visit www.growthcurvecapital.com.
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Prosek Partners
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