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Case Studies
We are committed to the success of our partners in business. Every investment begins with a well-defined strategic plan, but we are intuitive and nimble enough to adjust our plans as needed. The success of every business is our sole aim.
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Origin Healthcare Solutions
Headquarters: Chicago, IL
Business: Healthcare IT and Medical Billing Services
Acquired: 2006
Realization: 2009 |
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We build larger, more diverse businesses through complementary acquisitions and creative growth strategies.
Company
Origin was formed by combining five individual companies, all engaged in providing medical billing and other outsourced practice management services and technology to physician groups.
Investment Idea
We wanted to combine certain components of the highly fragmented outsourced physician billing industry, extend the business to a more diverse customer base, offer additional value-added services, and expand into new geographic locations.
We planned to take advantage of advances in technology to expand revenue cycle management and electronic medical records services from the historical hospital-based physician market to the office-based physician market (representing approximately 70 percent of physicians), which had not historically outsourced these functions.
Executing an Acquisition Strategy
In 2006, the outsourced medical billing service industry was dominated by small, entrepreneur-owned businesses and primarily served physician practices in relatively limited geographic areas. We acquired a leader in the Northeast regional market with proprietary software and a strong customer base, serving physicians in multiple specialty practice areas. Over the next five years, we acquired four other companies, each serving physicians in different practice specialties and different geographical markets.
Conclusion
After three years in partnership with us, Origin had become the fifth largest provider of full-service medical billing, practice management solutions and electronic medical record services to physician practices in the United States, serving a variety of specialty groups across 41 states. |
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“Our business was focused on a specific type of physician specialty group, creating potential customer concentration risk and limiting our opportunities in the market. Through complementary acquisitions, SE Capital helped us expand our business with a broader array of products, services and customers, creating a more sustainable enterprise.”
Ladan Rykiel,
Former Owner,
Healthcare Management Group |
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