DuvaSawko and abeo Complete Strategic Combination with Gottlieb | Financial Buzz

DuvaSawko and abeo Complete Strategic Combination with Gottlieb

DuvaSawko / abeo, a leading provider of outsourced revenue cycle management (“RCM”) services and practice management solutions to independent emergency medicine practices and independent and hospital-employed anesthesia practices, today announced the completion of a strategic partnership with Gottlieb, a multi-vertical provider of RCM solutions to emergency and hospital medicine groups. This transaction combines two similarly aligned RCM leaders, dedicated to providing a premium, customer-centric service with a proven record of improving customer collections. In addition, included in the transaction is Gottlieb’s full suite of practice management solutions delivered through its subsidiary, Praxi Physician Management. Terms of the transaction were not disclosed.

Combining DuvaSawko / abeo and Gottlieb will create one of the largest multi-vertical RCM platforms with approximately 9.0 million emergency medicine visits and 3.5 million anesthesia cases processed annually across 40+ states. This partnership provides both organizations with the scale and managerial and IT resources to better serve its customers while providing the same customer-centric approach as has existed. Michael O’Boyle, DuvaSawko / abeo CEO, will serve as CEO of the combined entity. Management of both companies will be retained and continue to be meaningful shareholders in the combined company.

“The DuvaSawko / abeo team is elated to partner with Gottlieb, one of the most highly respected brands in physician-based RCM,” commented O’Boyle. “The addition of Craig Radulovich and the leadership at Gottlieb further enhances the DuvaSawko / abeo team with some of the best RCM specialists in the industry. We are excited to leverage Gottlieb’s robust technology and service platforms strengthening our deep commitment to improving our clients’ financial performance.”

Radulovich added, “The strategic combination with DuvaSawko / abeo will enable Gottlieb to extend its market leadership and leverage industry-best standards across both companies. We look forward to joining a larger organization to further accelerate our growth strategy within emergency and hospitalist medicine while relying on DuvaSawko / abeo’s existing resources to expand into new verticals. We look forward to working closely with Michael to deliver the same quality outcomes our customers rely on.”

DuvaSawko / abeo is backed by Varsity Healthcare Partners (“VHP”), a leading middle-market healthcare services private equity investment firm. This transaction marks the first since the transformative merger between DuvaSawko and abeo that was completed in November 2020.

Kirkland & Ellis LLP acted as legal adviser to VHP and DuvaSawko / abeo. Debt financing in support of the transaction was led by Twin Brook Capital Partners.

About DuvaSawko / abeo

DuvaSawko / abeo merged in 2020 to become a market leader in outsourced physician-focused business solutions for emergency medicine and anesthesia providers. DuvaSawko / abeo serves hospitals and health systems, independent physician groups and ASCs through its market-leading solutions. DuvaSawko / abeo collects over $2.0 billion annually from over 7.5 million cases, aided by industry-best proprietary software. The company also provides advisory solution services and proprietary technology products to its customers. DuvaSawko / abeo is uniquely positioned to serve clients in a dynamic and integrated healthcare environment, with a dedication to optimize collections per visit, reduce errors, and increase productivity across all billing and collections functions. The company’s advanced approach to RCM combined with scalability, technology, and best-in-class service allows DuvaSawko / abeo to offer a superior value proposition across multiple physician specialties. For more information, visit www.duvasawko.com or www.abeo.com.

About Gottlieb

Gottlieb is an industry leader in end-to-end Revenue Cycle Management and Practice Optimization solutions for hospital and independent physician groups, specializing in Emergency Medicine and Hospitalist practices. Privately held since 1978, Gottlieb helps their clients navigate the complex healthcare landscape by designing innovative and technology-enabled services that simplify and improve the financial experience for healthcare providers and patients. For more information, visit www.gottlieb.com.

Contacts

Mickey Mandelbaum or Nick Rust

Prosek Partners

(212) 279-3115

mmandelbaum@prosek.com / nrust@prosek.com