Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, MO, announced the sale of its portfolio company Receivables Management Partners (RMP). Terms of the transaction were not disclosed.
RMP is a leading provider of accounts receivables management services to healthcare providers. Headquartered in Greensburg, IN, the company was acquired by TSCP and management in July 2012. Together, TSCP and management completed five strategic acquisitions and transformed RMP from a regional partner into a clear national leader in healthcare revenue cycle management (RCM) services with a focus on patient collections. RMP previously comprised TSCP’s Healthcare Revenue Cycle Group along with Infinity Behavioral Health Services, a leading RCM company servicing the behavioral health industry. TSCP will retain ownership of Infinity, which will now operate independently from RMP.
Said Anthony Chambers, Director of TSCP, “As healthcare costs continue to rise, the responsibility for healthcare reimbursement is increasingly shifting to the patient. At the same time, healthcare providers are expanding and recognize the need for a best-in-class RCM partner with national capabilities equipped to manage the increasingly complex patient financial responsibility.” Added Chambers, “We recognized an opportunity in 2012 to build upon the strong capabilities built under RMP CEO Mark Schabel’s leadership to provide a better solution for increasing patient financial responsibility. By investing in technology, compliance solutions and our employees, we positioned RMP to maximize revenue for our clients while ensuring a positive patient experience.”
Mark Schabel said, “I’m incredibly proud of the company that Thompson Street, our management team and most important our talented employees have built. TSCP has a strong track record investing in growth, and they proved to be the ideal partner for us by providing a flexible approach and the resources to facilitate the execution of our growth initiatives.”