TORONTO, CANADA - WILMINGTON, USA - DUBLIN, IRELAND, Nov. 11, 2014 /PRNewswire/ - Syncordia has acquired HSI of Santa Rosa, CA, an emergency medical services ("EMS") revenue cycle management ("RCM") company with cutting edge proprietary technology designed to maximize all aspects of the revenue cycle.
HSI is a technology enhanced claims management company utilizing proprietary technology to improve claim workflow, production management, and actionable data transparency. Since its inception over a decade ago, HSI has demonstrated a consistent level of innovation and growth. Michael Franks, Syncordia's CEO, says "The decision to acquire HSI aligns with Syncordia's vision of becoming a world class technology enabled RCM company utilizing a proprietary suite of software applications and workflows to provide best in class solutions."
Realizing a gap in efficiencies in the EMS transportation medical billing process, HSI developed leading edge medical billing technology to enable a highly efficient billing process. The technology developed by HSI automates and speeds up claims processing and provides analytics for deeper insight to fine tune the RCM process. www.hsihealth.com
Syncordia operating in North America and Europe, is focused on investing in, partnering with and growing RCM companies where proprietary technology can be used as an accelerator. We address a great void in niche healthcare sectors, such as EMS, where the necessary workflow/production/analytic components are largely absent or inadequate for a RCM company to maintain quality with scale. Led by a team of executives with extensive experience in RCM and technology, acquisition opportunities are carefully selected to become part of the Syncordia family and enable Syncordia's vision of becoming a world class technology enhanced RCM company with best in class solutions. www.syncordiahealth.com.
National Bank Financial Inc. acted as lead agent in connection with the private placement of series B preferred shares for the acquisition of HSI. Debt financing for the transaction was led by Deans Knight Capital Management Limited with Armentum Partners acting as a debt advisor. Origin Merchant Partners acted as financial advisor to Syncordia for the acquisition of HSI.
SOURCE Syncordia Technologies and Healthcare Solutions, Inc.