Deloitte Corporate Finance acted as the exclusive financial advisor to Health Payment Systems, a Milwaukee-based healthcare technology firm that provides outsourced billing, payment and collections solutions to the healthcare market, in its recapitalization with Caltius Equity Partners, a Los Angeles-based private equity firm. The transaction closed April 2, 2018.
“Deloitte Corporate Finance’s advice to HPS was truly valued. We are excited to begin a new partnership with Caltius and look forward to the next stage of HPS’s growth together,” said Terry Rowinski, president and CEO of Health Payment Systems.
“The appetite to acquire technological advancements through M&A remains attractive,” said Doug Bolt, managing director, Deloitte Corporate Finance. “The company’s work developing innovative healthcare payments software is a great example of strong interest in acquiring innovation.”
Caltius Equity buys and builds lower middle-market companies in the business services, industrial services, IT and managed services and consumer services industries. The Los Angeles-based firm invests from $10 million to $30 million per transaction for controlling or substantial minority ownership positions in businesses generating EBITDA from $4 million to $12 million.