Elevate Patient Financial Solutions: Expanding RCM Offering with Professional Medical Services Acquisition

Houston, TX -- Elevate Patient Financial Solutions (ElevatePFS) is thrilled to announce its acquisition of Professional Medical Services, a leading provider of revenue cycle management (RCM) solutions focused on low-balance accounts receivable resolution. This strategic move will expand ElevatePFS' suite of RCM solutions, reinforcing the company's commitment to addressing the most complex aspects of the revenue cycle for its customers. With Professional Medical Services' expertise and technology, ElevatePFS' accounts receivable capabilities will be broadened and strengthened, offering improved cash collections and enhanced services to their clients.

Low-balance receivables have long been a pain point for hospitals and health systems, who often lack the technical capabilities and resources to resolve these accounts effectively. ElevatePFS CEO, Michael Shea, recognizes this challenge and sees tremendous opportunity in leveraging Professional Medical Services' capabilities to support their existing customers and optimize their cash collections.

"We are excited to partner with ElevatePFS to expand our client base and bring incremental services to our existing clients. We look forward to leveraging the expertise and additional capabilities of a nationally scaled RCM provider like ElevatePFS," said James Dressman, Executive Director of Sales, and Kelly Mitchek, Executive Director of Operations, from Professional Medical Services.

ElevatePFS is backed by private equity firms Frazier Healthcare Partners and The Edgewater Funds. This acquisition demonstrates their commitment to growth and their dedication to providing top-notch RCM solutions to the healthcare industry.

ElevatePFS is a leading provider of technology-enabled specialty revenue cycle management solutions for hospitals, health systems, and healthcare providers nationwide. Their proprietary technology platform offers a unified suite of RCM solutions designed to engage patients, empower physicians and hospitals, and improve financial outcomes throughout the entire healthcare continuum. ElevatePFS' suite of solutions includes Medicaid eligibility and enrollment services, accounts receivable services, complex claims recovery services, and patient responsibility services. The company is headquartered in Spring, TX.

Professional Medical Services, founded in 1991 and based in Fort Worth, TX, provides technology-enabled RCM solutions for the collection of outstanding low-balance A/R on behalf of hospitals and health systems. Their industry-leading expertise and technology will bolster ElevatePFS' existing accounts receivable capabilities, further enhancing their comprehensive RCM offering.

Frazier Healthcare Partners, founded in 1991, is a private equity firm focused exclusively on the healthcare industry. With over $8 billion of capital raised for private funds and co-investment opportunities, Frazier has invested in more than 200 companies over the past 32 years. Frazier's philosophy revolves around partnering with strong management teams while leveraging their internal operating resources and network to build exceptional companies. Headquartered in Seattle, WA, Frazier invests broadly across the U.S., Canada, and Europe.

The Edgewater Funds, a Chicago-based private equity firm, has raised over $4.0 billion of capital commitments since 2001. Edgewater specializes in providing capital and experience to outstanding growth companies, with a focus on high-quality middle market companies where they can add substantial value through their capital, experience, and broad network. The firm's partners have a track record as successful CEOs and business leaders, and their team includes an Executive Advisory Board composed of nationally prominent business and financial leaders. Edgewater is flexible in structuring both growth equity (minority) and buyout investments to meet the needs of each investment situation.

For more information about Elevate Patient Financial Solutions and to get in touch with a representative, please visit their official website at www.elevatepfs.com.

In conclusion, ElevatePFS' acquisition of Professional Medical Services marks a significant milestone in their efforts to offer comprehensive and effective RCM solutions to the healthcare industry. With a broader suite of services and strengthened accounts receivable capabilities, ElevatePFS is well-positioned to address the most complex challenges of the revenue cycle and improve financial outcomes for their customers.