Daily News: October 27, 2014

Prudential Capital Provides MediGain Growth Capital

MediGain announced it closed a $38 million transaction with Prudential Capital Group. Deloitte Corporate Finance acted as a financial advisor to MediGain and helped facilitate the transaction.

“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. “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 an optimal structure with an ideal partner that has positioned the company for accelerated growth.”

“This positions MediGain as the fastest growing RCM company in the country,” said Dinesh Butani, Chairman of MediGain. “Our phenomenal growth in the US 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 impressive growth over the past few years, and we are pleased to assist with this recapitalization. We are also very excited to continue our relationship with MediGain as we expect to see many growth opportunities in the revenue cycle management and healthcare analytics sectors,” said Dave Vorhoff, managing director, Deloitte Corporate Finance LLC.

MediGain provides a full suite of revenue cycle management services that operates on the top eight practice management systems in healthcare.