Deloitte Advises MediGain in Recent Transaction
Deloitte Corporate Finance acted as exclusive advisor to MediGain in a transaction in which it obtained $38 million in growth capital from Prudential Capital Group. The recapitalization closed on Oct. 3, 2014.
With the transaction complete, MediGain plans to execute a number of strategic acquisitions.
“DCF delivered a great combination of relevant industry experience, valuable access to capital providers and an important perspective on capital structures. Their work helped MediGain achieve a transaction with an ideal partner. MediGain plans to continue its organic growth and execute a number of strategic acquisitions using funds from Prudential Capital Group, and we look forward to working with Prudential as a long term capital partner,” said Greg Hackney, CEO and president of MediGain.
“This positions MediGain as the fastest growing RCM company in the country,” said Dinesh Butani, chairman of MediGain. “Our phenomenal growth in the United States drives our corporate growth in India and Sri Lanka. MediGain is truly a global company with executive and corporate offices on both sides of the globe with an optimal factory direct model not common in the RCM industry.”
“We have been fortunate to follow MediGain’s growth over the past few years. Now that we’ve assisted with MediGain’s recapitalization, we look forward to continuing our relationship with them, given the opportunities in the revenue cycle management and healthcare analytics sectors,” said Dave Vorhoff, managing director, Deloitte Corporate Finance.
“We received a significant level of enthusiasm from the capital markets, and MediGain was able to choose from multiple interested parties to select their preferred mix of financing structures,” said John Deering, managing director, Deloitte Corporate Finance.
MediGain is a full-service provider of revenue cycle management solutions to the healthcare industry.