ATLANTA, May 29, 2018 /PRNewswire/ -- Following a recent string of exits, BIP Capital today announced the acquisition of Aspirion Health Resources, netting a return of more than five times its initial investment. The healthcare technology startup uses a tech-enabled proprietary claims process to help hospitals mitigate the average $8.6 billion spent on claims-related administrative costs each year.
"Aspirion provides a winning combination of process and technology to help hospitals settle traditionally hard-to-settle claims," said Mark Buffington, BIP Capital's chief executive officer. "We're very proud of the growth Aspirion has achieved due to its unique approach to solving a painful problem in the healthcare system, and we're especially thankful to its leadership team for driving such a successful exit for our investing partners."
As hospitals move from volume-based to value-based care models, value propositions are changing for both provider and patient. Thinner profit margins make the settlement of existing reimbursement claims increasingly important for a hospital system's bottom line.
BIP Capital first invested in Aspirion Health Resources in 2012. Under the VC firm's guidance, Aspirion has grown 17 percent year over year by emphasizing the following:
- A strong focus on leadership development
- Adding business lines unique to the market
- Operational expertise in the healthcare space
"This acquisition will help us to continue our momentum and rapid growth," said Lori Lipocky, chief executive officer of Aspirion. "We're excited to expand our solution for automating and speeding the handling of hard-to-settle reimbursement claims to more hospitals nationwide."
About BIP Capital
BIP Capital is recognized as one of the most active and successful venture investors in the Southeast, serving entrepreneurs, investors and operators to grow the emerging company ecosystem. The firm applies experience and process to make investment decisions and operational recommendations, allowing its portfolio companies to achieve and stay on a glide path of growth. Areas of focus include Enterprise SaaS, Healthcare IT, Digital Media, Dev Tools and MarTech. For more information, visit www.bip-capital.com or follow BIP Capital on Twitter @BIPCapital.
SOURCE BIP Capital