NEW YORK, Sept. 23, 2021 /PRNewswire/ -- Welsh, Carson, Anderson & Stowe ("WCAS"), a leading private equity firm focused exclusively on the healthcare and technology industries, announced today that it has acquired Argos Health, a rapidly growing provider of complex claims revenue cycle services to some of the country's leading health systems. Argos Health works with hospitals, health systems, and physician groups to drive reimbursement and increase claims recovery through their core services of workers' compensation, ERISA appeals, motor vehicle accident, US Department of Veterans Affairs and other military claims, and additional complex cases.
Brent McCarty, Argos Health Chief Executive Officer said, "Joining with WCAS will allow us to expand our reach at a time when revenue recovery services have never been more critical for the healthcare industry. We are excited to find such a strong partner to support our next stage of growth, given WCAS's 40-plus year history of growing healthcare companies and deep relationships with healthcare systems. In addition, WCAS brings strong technology capabilities to drive increased automation as we scale going forward."
"We believe Argos Health has the potential to become a first-of-its-kind Specialized Revenue Integrity platform to help providers recover hard-to-capture payments of all types," said Ed Sobol, General Partner at WCAS. "We have known Brent McCarty for a long time, having worked with him previously when he served as President and COO of Accuro Healthcare, a former WCAS portfolio company. We are thrilled to partner with the Argos team to scale the platform organically and through acquisitions, while helping hospitals improve collections and re-invest in care delivery."
"Argos Health is a natural fit for WCAS given our extensive experience partnering with management teams to build leading healthcare companies," Caroline Dechert, Principal at WCAS, added, "We are enthusiastic about supporting Argos to accelerate its growth and add capabilities to further enhance its value proposition across a broad range of healthcare providers."
Over the past four decades, WCAS has successfully invested approximately $10 billion of equity in over 90 healthcare companies through its 13 private equity funds. WCAS's current portfolio includes market-leading healthcare businesses such as CenterWell, InnovAge, MMIT, Shields Health Solutions and U.S. Anesthesia Partners.
About Argos Health
Argos Health is a revenue cycle partner specializing in the management and resolution of complex claims. The company works with hospitals, health systems, and physician groups to drive reimbursement and increase claims recovery through their core services of workers' compensation, motor vehicle accident, out-of-state Medicaid, ERISA, US Department of Veterans Affairs and other military claims, and additional complex cases. Argos Health has been ranked #1 in the Complex Claims Solution Vendor category in the last three Black Book Hospital CFO Surveys and is a top-ranked KLAS vendor. To learn more, visit: http://www.complexclaims.com.
About Welsh, Carson, Anderson & Stowe
WCAS is a leading U.S. private equity firm focused on two target industries: technology and healthcare. Since its founding in 1979, the firm's strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, growth initiatives and strategic acquisitions. The firm has raised and managed funds totaling over $27 billion of committed capital. For more information, please visit http://www.wcas.com.
SOURCE Welsh, Carson, Anderson & Stowe