Recent Merger to Impact U.S. Healthcare Providers

Compass Investment Partners Fund, L.P., a middle market private equity fund focused on the Business Information and Outsourced Services sector, has completed the acquisition of PSC Info Group , a leading national provider of innovative, technology-enabled solutions and revenue acceleration tools that streamline the collection of consumer payments, including patient payments to hospitals and physician groups nationwide.  PSC will be combined with DANTOM Systems (a Compass Investment Partners portfolio company), a leading provider of outsourced document management services and customized data solutions to the accounts receivable management and revenue cycle management markets.

The newly combined company will be named Revspring, which evokes the fundamental promise of the new brand: helping customers accelerate revenue. Revspring’s core service offering includes data hygiene and analytics, secure document creation and delivery, multi-channel communications, electronic billing and archival services and online payment tools, all while ensuring compliance with regulatory guidelines.  Revspring facilitates over one billion customer interactions annually and serves a large and diverse customer base across the healthcare, financial services, home services and other end-markets.

“Revspring will deliver a full continuum of solutions and services to help our clients accelerate their revenues while improving the patient experience. The combined strength of our technology, industry expertise and people puts Revspring at the forefront of healthcare revenue cycle management,” said Martin Callahan, Executive Vice President of Revspring.

Revspring’s headquarters will be in Wixom, Michigan, with a national footprint of strategic operational locations in Michigan, Pennsylvania, Nevada, Ohio and New York.  Tim Schriner, current CEO of DANTOM Systems, will serve as President and CEO of the combined platform.  Joseph J. Greco, Founder and CEO of PSC Info Group, is also an investor in the newly created company and will serve as Chairman of the Board.

Joe Greco, Chairman of Revspring said: “We are extremely excited to partner with Compass Investment Partners and DANTOM Systems to form Revspring. The combination of DANTOM and PSC is a highly strategic transaction that creates a powerful leader in the marketplace and provides scale and a national footprint to serve our growing customer base.”  Tim Schriner, CEO of Revspring added: “Revspring will be known as a leader in providing a range of technology-enabled solutions around time-sensitive communications, payments and analytics.  We will continue to aggressively invest in industry-leading technology, data security and regulatory compliance services under the new platform.”

Customers of DANTOM and PSC Info Group should contact their respective sales representatives for more information on the combination.  The businesses will continue to operate without interruption.

“This transaction highlights our sector-focused platform investment approach at Compass Investment Partners,” said Scott Marden, Managing Partner of Compass Investment Partners. “We look forward to partnering with Tim, Joe and the entire management team to implement the growth strategy.”

PSC Info Group is the second investment for Compass Investment Partners within its business process outsourcing sector focus.  Justin Lipton, Managing Director of Compass Investment Partners, added: “Our initial thesis was to build the leading company in the accounts receivable management market with an increased focus on the healthcare end-market and a continued migration towards data and electronic services.  This combination is a significant step forward for the company’s long-term plan.”

William Blair & Company L.L.C. and King & Spalding LLP advised PSC Info Group on the transaction.  Sidley Austin LLP served as legalcounsel to DANTOM Systems.

Editor’s Note: DANTOM Systems, Inc. is the premier provider of value-added business process outsourcing solutions serving the accounts receivable management and revenue cycle management sectors.  DANTOM’s national client base of over 900 organizations includes the nation’s largest collections agencies, hospitals, medical practices, cable companies and utilities.

Headquartered in Valley Forge, PA, and with additional processing facilities in Reno, NV, PSC Info Group is a national provider of technology-enabled, integrated multi-channel customer communication solutions that facilitate billing, payments and revenue acceleration.