Deloitte Corporate Finance LLC advises MediGain, LLC on its $38 million transaction with Prudential Capital Group
CHARLOTTE, N.C., Nov. 11, 2014 – Deloitte Corporate Finance LLC (“DCF”) acted as exclusive advisor to Plano-based MediGain, LLC (“MediGain”) in its successful transaction in obtaining $38 Million in growth capital from Prudential Capital Group. MediGain is a global provider of healthcare revenue cycle management solutions and analytics. The recapitalization closed on Oct. 3, 2014.
With the transaction complete, MediGain plans to execute a number of strategic acquisitions.
“DCF delivered a great combination of relevant industry experience, valuable access to capital providers and an important perspective on capital structures. Their work helped MediGain achieve a transaction with an ideal partner. MediGain plans to continue its organic growth and execute a number of strategic acquisitions using funds from Prudential Capital Group, and we look forward to working with Prudential as a long term capital partner,” said Greg Hackney, chief executive officer and president of MediGain.
“This positions MediGain as the fastest growing RCM company in the country,” said Dinesh Butani, Chairman of MediGain. “Our phenomenal growth in the United States drives our corporate growth in India and Sri Lanka. MediGain is truly a global company with executive and corporate offices on both sides of the globe with an optimal factory direct model not common in the RCM industry.”
“We have been fortunate to follow MediGain’s growth over the past few years. Now that we’ve assisted with MediGain’s recapitalization, we look forward to continuing our relationship with them, given the opportunities in the revenue cycle management and healthcare analytics sectors,” said Dave Vorhoff, managing director, Deloitte Corporate Finance LLC.
“We received a significant level of enthusiasm from the capital markets, and MediGain was able to choose from multiple interested parties to select their preferred mix of financing structures,” said John Deering, managing director, Deloitte Corporate Finance LLC.
About MediGain, LLC
MediGain is a global full-service provider of revenue cycle management (“RCM”) solutions to the healthcare industry. The company’s holistic, end-to-end product and service offerings of RCM functions, range from front-end services such as eligibility verification to back-end services such as accounts receivable collections. MediGain provides its service offering to over 270 clients, including independent physician groups, hospitals, and ambulatory surgery centers. For more information, visit MediGain’s website at www.medigain.com.
About Prudential Capital Group
Prudential Capital Group has been a leading provider of private debt, mezzanine and equity securities to companies worldwide for more than 70 years. Managing a portfolio of $68.1 billion as of June 30, 2014, Prudential Capital offers senior debt and mezzanine capital, leveraged leases, credit tenant leases, and equipment finance to companies, worldwide. The global regional office network has locations in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Minneapolis, Newark, N.J., New York, Paris and San Francisco. For more information, please visit www.prudentialcapitalgroup.com.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC (DCF) provides strategic advisory services and M&A advice that help corporate, entrepreneurial and private equity clients create and act upon opportunities for liquidity, growth and long-term advantage. With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. DCF, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. For more information, visit www.investmentbanking.deloitte.com.
Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security.
Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member of FINRA and SIPC, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. For more information, visit www.investmentbanking.deloitte.com. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.