MedTek has been sold to National Medical Billing Services, a portfolio company of Aquiline Capital Partners
MedTek is a leading Los Angeles-based provider of technology-enabled healthcare revenue cycle management (RCM) solutions to a vast network of ambulatory surgical centers (ASCs), hospitals, clinics and specialty groups across the United States. MedTek’s comprehensive offerings include transcription, coding, billing and a suite of software tools for providers. The company’s solutions directly help reduce cost and drive operational efficiencies for ASCs while simplifying workflows and allowing clinical staff more time to focus on delivering high-quality patient care. For more information, please visit www.medtek.net.
National Medical Billing Services (NMBS), a portfolio company of Aquiline Capital Partners, acquired MedTek, which will further enhance NMBS’s position as a “one-stop shop” for outsourced RCM solutions serving ASCs, surgical practices and specialty groups. The addition of MedTek brings unmatched and complementary ASC-specific medical transcription, surgical coding and related RCM software and services to NMBS’s portfolio, which helps NMBS further enhance their clients’ financial profiles by improving their working capital position while maximizing reimbursement.
Manny Singh, Chief Executive Officer and Co-founder of MedTek, and Sandy Seth, President and Co-founder of MedTek, commented, “In order to find the best partner for the next phase of MedTek’s growth, we needed an advisor who understood our RCM service offerings in the niche ASC market. The Lincoln International team understood our space well, ran a targeted process and at the end, helped us identify the best partner. Throughout the process Lincoln provided us guidance, perspective and kept us focused. The Lincoln team was terrific, and we could not have had a better outcome!”
MedTek has an impressive 20-year history and is known as a leader in ASC-focused RCM services and technology. The company has a strong track record of improving billing and payment accuracy and significantly reducing the time it takes for providers to receive payment for services. The ASC RCM market continues to be an attractive sector that is supported by numerous favorable tailwinds, including the shift in patient volumes towards lower-cost outpatient services, healthcare providers’ desire to outsource non-core services and technological advances in data, analytics and software which improve the overall revenue cycle.
Mike Siano, Managing Director in Lincoln’s Healthcare Group, commented, “We greatly enjoyed working with the MedTek team on this important transaction. The combination of NMBS and MedTek will create an incredibly powerful platform in the RCM space. We are excited for the MedTek, NMBS and Aquiline teams and we look forward to seeing their continued growth and success.”
National Medical Billing Services
NMBS is a leading provider of revenue cycle outsourcing solutions to ASCs, surgical practices and specialty groups. NMBS’s combination of ASC expertise, analytics, insightful advice and skilled and experienced revenue cycle experts allow the company to deliver strong results for its clients. For more information, please visit www.nationalascbilling.com.
Aquiline, founded in 2005, is a private investment firm based in New York and London investing in companies across financial services and technology, healthcare and business services. The firm has $9.6 billion in assets under management as of June 30, 2022. For more information, please visit www.aquiline.com.
Throughout the process Lincoln provided us guidance, perspective and kept us focused. The Lincoln team was terrific, and we could not have had a better outcome!
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