According to a news statement from private equity firm Thompson Street Capital Partners (TSCP), its automated healthcare payments company Revenue Management Solutions (RMS) has acquired the supplier of recognition solutions OrboGraph.
Orbograph already works in the healthcare industry and offers services that assist with payment negotiability and check fraud. The press announcement stated that by purchasing the business, two automation-focused healthcare IT businesses were integrated.
According to the announcement, OrboGraph will operate independently under its own brand and will continue to offer its AI-based check imaging and fraud detection service. After the businesses merge, Barry Cohen, the CEO of OrboGraph, will stay in that role.
As a stand-alone division under RMS, the two firms will “continue to lead and focus on the growth of our check business,” according to Cohen. The two businesses will also “integrate the healthcare services of the businesses.”
According to TSCP managing director Brian Kornmann, the business believed the moment was ripe to enable the transaction.
We think the time is ripe to combine these two outstanding businesses after spending seven years watching OrboGraph expand under Barry Cohen’s direction, he added. “Both RMS and OrboGraph will continue to actively pursue acquisition prospects that offer the top technology-driven automation solutions in their respective sectors,” the statement reads.
Additionally, they recently disclosed that Made4net, a firm affiliated with TSCP, has acquired Zethcon.
Made4net provides cloud-based supply chain execution and warehouse management system software, while Zethcon’s platform is designed for the third-party logistics (3PL) sector.
In the release, TSCP stated that the combination of Made4net’s WMS product leadership across a broad diversity of end markets that extend beyond 3PL and Zethcon’s multi-decade track record of delivering premier 3PL WMS solutions creates a best-of-breed warehouse software company that serves an impressive global footprint of blue-chip 3PL and non-3PL customers, spanning virtually all industries.
