Deloitte Corporate Finance LLC Advises Health Payment Systems, Inc. in its Recapitalization
CHARLOTTE, NC, Sep. 5, 2018 — Deloitte Corporate Finance LLC acted as the exclusive financial advisor to Health Payment Systems, Inc. (HPS), a Milwaukee, Wisc. based healthcare technology firm that provides patent-protected, outsourced billing, payment and collections solutions to the healthcare market, in its recapitalization with Caltius Equity Partners (Caltius), a Los Angeles-based private equity firm. The transaction closed April 2, 2018.
"Deloitte Corporate Finance’s advice to HPS was truly valued. We are excited to begin a new partnership with Caltius and look forward to the next stage of HPS’s growth together,” said Terry Rowinski, president and CEO of Health Payment Systems, Inc.
“The appetite to acquire technological advancements through M&A remains attractive,” said Doug Bolt, managing director, Deloitte Corporate Finance LLC. “The company’s work developing innovative healthcare payments software is a great example of strong interest in acquiring innovation.”
About Health Payment Systems, Inc.
HPS simplifies and enhances the healthcare billing and payments process for consumers while driving value to health care providers, health insurance companies and employers. Its patented SuperEOB® and advanced electronic data interchange technology consolidates and transmits claims and payment information between all stakeholders, resulting in a single monthly statement and payment for consumers; outsourced billing, collections and faster payment for providers; and, improved customer service for insurance companies and employers.
Since it was founded in 2005, HPS has processed over $1.8 billion in claims. The company partners with major health plans and practitioners in Wisconsin, and its provider network encompasses over 96 percent of healthcare providers in the state. For more information, visit www.hps.md.
About Caltius Equity Partners
Caltius Equity, founded in 1999, buys and builds lower middle market companies in the business services, industrial services, IT and managed services and consumer services industries. The Los Angeles-based firm invests from $10 million to $30 million per transaction for controlling or substantial minority ownership positions in businesses generating EBITDA from $4 million to $12 million. Caltius Equity’s creative and flexible solutions facilitate management buyouts, recapitalizations and growth financings. The firm’s experienced team develops deep relationships with its portfolio companies’ management, helping them grow the businesses and optimize liquidity events. For more information, visit www.caltiusequity.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, DCF advises clients 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. 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.
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