Bolder Capital Announces Partnership With Michael Shea To Build A New Company Specializing In Healthcare Revenue Cycle Management.
CHICAGO, Aug. 1, 2012 /PRNewswire/ -- Bolder Capital and Michael A. Shea have partnered to identify investment opportunities in the Healthcare Revenue Cycle Management industry. The new company, Bolder Healthcare Solutions (BHS) will focus on meeting a pressing market need to help healthcare providers achieve better results by improving the performance of their revenue cycle. Bolder Capital plans to invest strategically in key companies to bring together best of breed products and technologies in the revenue cycle space to include solutions for both Hospitals and Physicians.
Bolder Healthcare Solutions (BHS) will be built through acquisitions of best of class companies across the Healthcare Revenue Cycle. BHS will offer a combination of experienced management, leading technology, and best of class niche services to create a powerful new tool for providers to partner with in order to improve their financial performance. The company will also expand organically through the acquisition of new clients, addition of highly talented management and strategic partnerships within the industry.
Michael Shea , Chief Executive Officer of BHS, commented, "I am very pleased to partner with Bolder Capital to build an outstanding company that will strive to provide cutting edge solutions for Healthcare providers in a very challenging environment. We intend to build a company that will help improve the cash flow and bottom-line of our client Hospitals and Physician providers, by providing domain expertise in a number of critical markets specialties."
Dave Tolmie , Partner with The Edgewater Funds and Managing Director of Bolder Capital commented, "Hospitals and physician groups face growing pressure in their efforts to maximize cash flow throughout their revenue cycle. The increase in healthcare regulations and price pressures are accelerating the demand for specialized outsourced services. Michael Shea has been an extraordinarily successful entrepreneur and leader in this evolving industry for over two decades. Bolder Capital is honored to be Mike's partner."
About Michael A. Shea
Michael Shea has more than 22 years of successful experience in the Healthcare Revenue Cycle Management industry. Michael founded MedAssist Incorporated in 1989 and by 2007 led the company to become a 1,400 person enterprise with over $100 million in revenues. In partnership with a private equity investor, Michael sold MedAssist to Firstsource Solutions for $330 million. Michael remained on as president and CEO of MedAssist, and president of Global Healthcare Solutions and CEO of North America, until 2010. Michael's vision of "bridging the gap" between healthcare delivery and reimbursement, with a focus on patient advocacy, helped pioneer the acceptance of Eligibility outsourcing nationally. Michael is a past Ernst and Young Entrepreneur of the year award winner in the Mid-west for Healthcare.
About Bolder Capital
Bolder Capital has been formed through a co-investment relationship with The Edgewater Funds and JZ Capital Partners. Bolder brings access to over $2 billion in assets under management and experience from hundreds of private equity transactions dating back over 35 years. The firm focuses on partnering with experienced CEOs to build leading middle market companies through organic and acquisition growth.
For Additional Information Contact:
Dave Tolmie , Partner
THE EDGEWATER FUNDS
900 North Michigan Avenue
Chicago, IL 60642
Phone: (312) 649-5666
Todd M. Hamilton , Senior Managing Director
875 North Michigan Ave, Suite 4020
Chicago, IL 60611
Phone (312) 573-6420
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