Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced today that it, along with members of management and certain shareholders, has recapitalized Oklahoma City-based Revenue Management Solutions (RMS)(www.revmansolutions.com). The Company is the industry-leading provider of processes that facilitate the timely matching, posting and reconciliation of health care payments to underlying claims or other correspondence. TSCP was advised by H&Q Advisory Partners through the transaction. Terms of the transaction were not disclosed.
RMS employs nearly 100 people and provides its services to leading banking partners, Enterprise Resource Planning (ERP) solutions providers and directly to healthcare institutions throughout the United States. During 2016, the Company facilitated the processing of over 70 million transactions representing more than $40 billion in annual healthcare expenditures, ensuring the timely and accurate posting of cash, reducing costs and improving accuracy over any alternative solution in the market.
Scott Thomas, CEO of RMS, and the existing executive management team, contributed significant equity to the transaction and will remain with the business in a day-to-day capacity.
Said Thomas, “We are excited about partnering with Thompson Street Capital Partners and believe that this recapitalization will provide a strong base from which to continue the success RMS has achieved since its founding in 2006. The Company has grown tremendously in recent years and the expertise that TSCP brings through its significant experience in both healthcare and business services will further accelerate that growth. We appreciate this opportunity to work together to create a unique asset in our industry and are grateful for the support of our former shareholder base.”
Jim Cooper, Managing Partner, TSCP, said “We are pleased to have the opportunity to partner with Scott and his executive team to help continue the growth of RMS. The Company’s focus on providing value to its customers and its strong legacy of customer support fit perfectly with TSCP’s culture and we look forward to a successful partnership with the Company.”