Capital Clarity Advises Streamline Health in its Acquisition of Avelead
SAN FRANCISCO, Aug. 24, 2021 /PRNewswire/ -- Capital Clarity announced the close of Streamline Health Solutions, Inc.'s (NASDAQ: STRM) ("Streamline") acquisition of Avelead Consulting, LLC ("Avelead"), a recognized leader in providing solutions and services to improve revenue integrity for healthcare providers nationwide.
Terms of the deal include closing cash and stock consideration valued at $20 million, subject to customary post-closing adjustments for working capital, cash, debt and transaction expenses, and a performance-based earnout with an estimated value of $15 million. The acquisition is expected to be financed with a combination of cash and restricted shares of Streamline's common stock.
Tee Green, President and Chief Executive Officer, Streamline Health commented: "This acquisition better positions us to fulfill our mission to help providers improve their financial performance by ensuring the capture of compliant revenue – and the mitigation of over billing risk – before a bill goes out the door."
"We have enjoyed working with John Cooper and Susan Blanco and the team at Capital Clarity on this transaction. They brought great value to us and our shareholder base with their understanding of our business and their transaction expertise."
"In the current provider environment, revenue integrity and RCM is more critical than ever. We recognized that Avelead would be a strong strategic fit for Streamline and will help accelerate growth in these markets," stated John Cooper, Managing Partner at Capital Clarity. "We were pleased to play a role in combining these two enterprises."
About Streamline Health
Streamline Health Solutions, Inc. (NASDAQ: STRM) is a healthcare industry leader in capturing, aggregating, and translating enterprise data into knowledge – providing actionable insights that support revenue cycle optimization for healthcare enterprises. Streamline Health Solutions delivers integrated solutions and analytics that enable providers to drive reimbursement in a value-based world. For more information, visit www.streamlinehealth.net.
About Avelead
Avelead provides innovative technology solutions that automate and improve revenue cycle in healthcare. Avelead's SaaS cloud-based platform provides hospitals and health systems with solutions focused on key areas of Revenue Cycle: Patient Financial Services, Revenue Integrity, Revenue Optimization, and Cost Savings. Avelead's solutions allow providers to set the cruise control on their Clinically Driven Revenue Cycle. Avelead – Automating Revenue Cycle. For more information about Avelead's services and solutions, visit www.avelead.com.
About Capital Clarity
Capital Clarity offers a refined approach to investment banking that emphasizes long-term partnership with investors and management teams. Our leadership team has a combined experience of 80 years in financial advisory, mergers & acquisitions, corporate development and private equity. We combine advisory expertise with deep industry knowledge and long-standing buyer and investor relationships to create successful outcomes for our clients. Healthcare IT has long been one of Capital Clarity's primary areas of technology focus and expertise.
Capital Clarity Contacts
John Cooper
Managing Partner
[email protected]
(415) 683-0339
Susan Blanco
Managing Partner
[email protected]
(415) 320-1582
SOURCE Capital Clarity, LLC
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