A Medical Device Daily

MedAssist (Louisville, Kentucky), a provider of outsourced patient eligibility, accounts receivable management and collections services to U.S. hospitals, reported acquiring Capstone Solutions (Nashville, Tennessee), a provider of healthcare revenue cycle outsourcing solutions. Financial terms were not disclosed.

MedAssist said the acquisition will complement its core service delivery while opening new lines of business.

Capstone specializes in operational and strategic consulting services to improve the financial performance of its clients. Capstone's services include business office operational assessments, process improvement implementation, business intelligence and database applications, and customized A/R reporting technology for a broad range of healthcare providers.

Michael Shea, founder and CEO of MedAssist, said, "Capstone's extensive experience in the design and implementation of powerful analytical reporting tools provides hospitals with immediate answers to business-critical questions about the effectiveness of their operations."

Brenda Smith, president and CEO of Capstone, will be president of MedAssist's Capstone Division.

MedAssist was advised on the transaction by RoundTable Healthcare Partners (Lake Forest, Illinois), the company's majority shareholder.

MedAssist was founded in 1989. Its Eligibility Services Group assists self-pay patients in locating and obtaining public assistance, converting them to reimbursable accounts; its Receivables Management Group manages self-pay receivables prior to accounts becoming delinquent, maximizing the probability of prompt account resolution.

RoundTable Healthcare Partners is a private equity firm focused on the healthcare industry. It reports managing two equity funds totaling $900 million in capital.