Parsippany, New Jersey – Med-Metrix, LLC (“Med-Metrix”, or the “Company”), a leading provider of Revenue Cycle Management (“RCM”) and Business Intelligence (“BI”) solutions, along with subsidiaries Medi-Centrix, LLC and Physician Advisors On-Call, LLC, announced today that it has received investments from A&M Capital Partners (“AMCP”), existing strategic partner Hackensack Meridian Health (“HMH”) and senior management to support the Company’s next phase of growth. In conjunction with the transaction, Med-Metrix also merged with Miller & Milone, P.C. (“Miller & Milone”), a leading provider of healthcare denial management and other RCM related services.
“We are excited to welcome AMCP as new partners and to continue our successful multi-year strategic partnership with HMH,” said Med-Metrix Founder and CEO Joseph Davi. “We are eager to add and invest into our best-in-class, technology-enabled RCM service offerings as illustrated by our merger with Miller & Milone.”
Founded in 2010, Med-Metrix is a leading technology-enabled services platform providing RCM and BI solutions for health systems and physician groups across the United States. Med-Metrix provides RCM and BI services via the Company’s full suite of proprietary performance improvement technology. The Company serves its customers through its Med-Metrix LLC, Medi-Centrix LLC, Physician Advisor On-Call, LLC and Miller & Milone divisions.
“Med-Metrix has been a value-added partner of ours and we are excited about the opportunity to continue our strategic relationship with them going forward,” said Robert Glenning, President, Financial Services and Information Divisions and Chief Financial Officer of HMH. In connection with the transaction, Mr. Glenning has joined the board of the consolidated Company.
“The Miller & Milone team believes the merger with Med-Metrix is an outstanding business and cultural fit. The combination of our market leading offerings along with those of Med-Metrix creates truly differentiated services for our customers and will prove to be value-added for all involved,” said Christina Milone, Founder and CEO of Miller & Milone.
“Joe Davi, Rob Wright, and the long-standing management team at Med-Metrix have built a world-class RCM platform that provides the Company’s clients with a comprehensive suite of software and services that delivers superior results,” said Rob Haisch, a Partner of AMCP. “AMCP looks forward to supporting Med-Metrix’s experienced leadership with resources to continue the Company’s current growth trajectory, including through potential new customer introductions as well as through additional M&A.”
Med-Metrix was advised by VRA Partners LLC and Sills Cummis & Gross P.C. on the transaction. A&M Capital was advised by McDermott Will & Emery. Hackensack Meridian Health was advised by Raymond James.
About Med-Metrix
Med-Metrix is a leading technology-enabled services platform providing RCM and Business Intelligence solutions for health systems and physician groups across the United States. Med-Metrix provides RCM and BI services via the Company’s proprietary software platform, AnalytX. The Company serves its customers through its Med-Metrix LLC, Medi-Centrix LLC, Physician Advisor On-Call, LLC and Miller & Milone divisions.
About Miller & Milone
Miller & Milone is leading healthcare RCM platform that focuses on Denial Management, Medicaid Eligibility, Financial Recovery of Accounts Receivable, Case Management/Discharge Planning, and Elder Law and Estates for major hospitals, physician practices, nursing homes and individual clients. Miller & Milone was founded in 1970 and is headquartered in Garden City, New York.
About Hackensack Meridian Health
Hackensack Meridian Health is the largest, most comprehensive and truly integrated health care network in New Jersey, offering a complete range of medical services, innovative research and life-enhancing care. Hackensack Meridian Health operates 17 hospitals and more than 500 patient care locations, which include ambulatory care centers, surgery centers, a fitness and wellness center, home health services, ambulance services, urgent care facilities, rehab centers, skilled nursing centers and physician practice locations spanning from Bergen to Atlantic counties.
About A&M Capital Partners
A&M Capital Partners is Alvarez & Marsal Capital’s flagship investment strategy focused on middle-market control transactions in North America with total assets under management of $1.8 billion. A&M Capital Partners has a strong and referenceable track record of serving as a trusted partner to founders, corporates and management teams, providing the capital and strategic assistance required to take businesses to the next level of success. A&M Capital Partners invests in businesses across a wide range of sectors including Business Services, Industrials, Manufacturing, Food & Beverage, Healthcare, Consumer & Retail, Government Services, Financial Services and Energy Services.
About Alvarez & Marsal Capital
Alvarez & Marsal Capital is a multi-strategy private equity investment firm with over $3 billion in total assets under management across four funds and three investment strategies. The privately-owned firm is led by a highly experienced investment team, which is augmented by its strategic association with Alvarez & Marsal (“A&M”), one of the largest operationally-focused advisory firms in the world. AMC’s business model combines a focus on middle-market private equity investing with the deep operational expertise, industry knowledge and global corporate relationships of A&M, making it a uniquely attractive partner to management teams, corporates and business owners.
About Alvarez & Marsal
A&M is a privately-owned independent global professional services firm that leverages an industry leading group of experienced operating executives who help businesses improve performance, solve problems and unlock value for stakeholders. A&M has over 5,400 operating professionals and employees in 65 offices across North America, Europe, the Middle East, Asia and South America. A&M has expertise across all major industry sectors and extensive functional capabilities in nearly all primary areas of a business enterprise including, among others, operations, revenue enhancement, sales and marketing, manufacturing, IT, finance, working capital management, supply chain and logistics, real estate, human capital management, merger integration and carve-out support.
Contact
Sheri DaCosta
Senior Vice President and Chief Financial Officer
sdacosta@med-metrix.com
[(201) 782-0200]
