Twin Brook Capital Partners provided debt financing to support DuvaSawko‘s merger with abeo Management Corporation.
DuvaSawko is a Florida-based provider of outsourced revenue cycle management services to independent emergency medicine practices. Based in Texas, abeo Management Corporation provides outsourced RCM and practice management services to independent and hospital-employed anesthesia practices.
Michael O’Boyle, current CEO of abeo, will serve as CEO of the combined entity. Management of both DuvaSawko and abeo will be retained and will be shareholders in the combined company.
DuvaSawko is backed by Varsity Healthcare Partners, a healthcare services private equity investment firm, which contributed additional equity to complete the transaction and has committed future equity capital to fund additional diversifying and/or service and technology-accretive acquisitions.
“We are excited to join with the recognized leadership of DuvaSawko and their capital partners, Varsity Healthcare Partners. This strategic combination will enable both businesses to benefit from greater scale, diversification, and enhanced sales, service and managerial infrastructure. We also expect continuing growth through renewed investment in identified organic opportunities and a well-developed acquisition strategy that will add complimentary tools and technology to our service capabilities,” O’Boyle said.
“We are thrilled to be joining with abeo and gaining access to its robust technology capabilities and sales platform, which will enable us to broaden and deepen DuvaSawko’s services to its customers. We look forward to collaborating with the abeo team and with Mike to efficiently integrate the two businesses and execute our acquisition and organic growth strategy while continuing to consistently deliver the same signature quality service and outcomes our customers depend on,” Jill Reynolds, CEO of DuvaSawko, said.
Houlihan Lokey served as exclusive financial advisor to both DuvaSawko and Varsity Healthcare Partners. Kirkland & Ellis acted as legal adviser to DuvaSawko and Varsity Healthcare Partners.
