Yukon Partners invests mezzanine capital in Practice Insight, a technology-enabled service company serving the healthcare market.
MINNEAPOLIS, Sep. 14 /BusinessWire/ --
Yukon Partners ("Yukon"), a provider of mezzanine capital for middle
market private equity transactions, is pleased to announce its mezzanine
investment in Practice Insight (the "Company").
Practice Insight, headquartered in Houston, Texas, provides revenue
cycle management and electronic data interchange solutions that help
healthcare providers manage the reimbursement cycle. The Company's suite
of products enables healthcare practitioners to digitize, automate, and
manage every stage of the revenue cycle workflow, reducing bad debt,
shortening the collection cycle, and minimizing the administrative
support required to manage the reimbursement process. Practice Insight
serves over 56,000 physicians across 150+ specialties nationwide through
a network of reseller relationships.
"The Practice Insight team is excited about our new partnership with
Yukon, and we look forward to their support as the Company enters its
next stage of growth," said Houston Johnson, CEO of Practice Insight.
"We have known Mike Furey for many years and appreciate his knowledge
and understanding of our business and industry."
Michael Furey, Partner of Yukon added, "In an environment of increased
reimbursement pressure and administrative burden, healthcare providers
need technology solutions to help them accurately and cost-effectively
manage their revenue cycle. We have been impressed by Practice Insight's
ability to consistently develop proprietary solutions that address the
evolving needs of physician practices."
Dorsey & Whitney, LLP served as legal counsel to Yukon.
About Practice Insight Practice Insight, based in Houston,
Texas, was founded in 2003 by a group of executives who have been
providing services to the healthcare industry since 1977. The core of
Practice Insight's product is the EDIinsight application which manages
all stages of the claim workflow with functionality that includes:
patient eligibility verification, claims scrubbing, real-time claims
submission and tracking, ERA management, patient statements, and
secondary claims processing. Practice Insight has partnered with many of
the best-known healthcare IT vendors and resellers to distribute their
solutions to over 56,000 physicians nationwide. For more information,
please visit www.practiceinsight.net.
About Yukon Partners Yukon Partners is an independent and
unaffiliated junior capital provider, primarily serving middle market
private equity sponsor led business transactions in the U.S. and Canada.
The transactions in which Yukon invests include buyouts, growth and
platform strategies, recapitalizations, mergers/acquisitions, and
public-to-private buyouts. Yukon invests $10 to $50 million per
transaction and manages approximately $1.2 billion across three funds.
Yukon Partners is based in Minneapolis, Minnesota. For more information,
please visit www.yukonpartners.com.