Rsource Receives Investment from Sunstone Partners

BRENTWOOD CAPITAL ADVISORS SERVES AS EXCLUSIVE FINANCIAL ADVISOR TO RSOURCE

Brentwood Capital Advisors (“BCA”) is pleased to announce that it served as the exclusive financial advisor to R. Smith International, LLC, d/b/a RSource (the “Company”) in its recently completed investment from Sunstone Partners (“Sunstone”).

Headquartered in Boca Raton, Florida, RSource provides specialty revenue cycle management (“RCM”) services that help hospitals and health systems to efficiently manage complex areas of the revenue cycle, including clinical denials, patient-involved denials and accident claims. Beyond these core offerings, RSource assists its customers with eligibility services, low-balance insurance recovery and legacy system conversions. The Company delivers industry-leading performance through the combination of a multidisciplinary approach and cross-functional expertise, driving measurable ROI for its clients across the country. 

“This investment is a very exciting milestone for RSource. We are thrilled to partner with Sunstone Partners and to leverage their deep healthcare and operational experience to power us through our next phase of growth” said Larry Reid & Robert Smith, Co-Founders of RSource. “We’ve had a longstanding relationship with BCA, who advised and guided us through every step of this process. We appreciate their excellent work and dedication to finding the right partner for our employees, partners and shareholders”. 

“RSource’s seasoned leadership team, leading market position and accelerating growth, even in this challenging market, created a highly attractive opportunity,” added Porter Meadors, Director at BCA. “It was a pleasure representing RSource and we look forward to watching their continued success as a partner of Sunstone.” 

About Brentwood Capital Advisors

Based in Franklin, Tennessee, Brentwood Capital Advisors is one of the South’s leading boutique investment banks, providing mergers and acquisitions and capital raising advice to privately-held, middle-market healthcare, technology and tech-enabled and outsourced services companies. BCA has served as exclusive financial advisor on transactions totaling over $6.8 billion in value in these sectors. Founded in 1999, the firm is partner-owned and has 24 investment banking professionals. For more information, please visit www.brentwoodcapital.com.

About RSource

Founded in 2008, RSource helps major health systems and hospitals across the U.S. recover maximum dollars from all types of third party-payer claims. Specializing in denials, complex claims and RCM optimization, RSource deploys an experienced, tech-enabled team to customize receivables management solutions. RSource’s programs are designed to accelerate and maximize netback, enhance patient satisfaction, and provide actionable feedback to improve front-end processes. For more information, please visit https://rsource.com/.

About Sunstone Partners

Sunstone Partners is a growth-oriented equity firm that makes majority and minority investments in technology-enabled services and software businesses. The firm seeks to partner with exceptional management teams, often as their first institutional capital partner, to help accelerate organic growth and fund acquisitions. Founded in 2015, the firm has $800 million of committed capital to its first two funds. For more information, visit www.sunstonepartners.com


CareHere to be Acquired by Premise Health

BRENTWOOD CAPITAL ADVISORS SERVES AS EXCLUSIVE FINANCIAL ADVISOR TO CAREHERE

Brentwood Capital Advisors (“BCA”) is pleased to announce that it served as the exclusive financial advisor to CareHere, LLC (“CareHere”), which recently entered into a definitive agreement to be acquired by Premise Health (“Premise”).  The transaction is scheduled to close on September 30, 2020, subject to customary closing conditions.

Headquartered in Brentwood, TN, CareHere is a leading operator of wellness centers for self-funded organizations, including large manufacturers, municipal and state governments, universities, and Taft-Hartley plans.  Operating 200+ on-site and near-site primary care and occupational health clinics in 28 states, CareHere partners with employers to inspire their employees and families to achieve well-being and greater health through innovative, quality, cost-effective health care solutions. 

“I am proud of our unfailing commitment to innovation and patient care at CareHere.  We look forward to continued success and innovation with Premise as we remain committed to delivering superior health and financial outcomes by challenging traditional conventions of health care for employers across the country” said Ernie Clevenger, Co-Founder and CEO of CareHere.  “We enjoyed working with BCA on this important transaction as they advised and guided us through every step of this process.  Their healthcare and transactional expertise played a critical role in structuring, negotiating and ultimately signing a deal with the right partner for our employees, patients and shareholders.”

“Since co-founding the company 16 years ago, Ernie Clevenger, Ben Baker and their team have built CareHere into an industry leader serving self-insured employers and municipalities nationwide.  Combining with Premise Health provides tremendous resources and scale to continue to lead the industry in innovation and client services,” added Tom Wylly, Senior Partner at BCA.  “It was a pleasure representing CareHere, and we look forward to watching the combined success of CareHere and Premise.” 

ABOUT BRENTWOOD CAPITAL ADVISORS

Based in Franklin, TN, Brentwood Capital Advisors is one of the South’s leading boutique investment banks, providing mergers and acquisitions and capital raising advice to privately-held, middle-market healthcare, technology and tech-enabled and outsourced services companies.  BCA has served as exclusive financial advisor on transactions totaling over $6.8 billion in value in these sectors.  Founded in 1999, the firm is partner-owned and has 24 investment banking professionals. For more information, please visit www.brentwoodcapital.com

ABOUT CAREHERE

CareHere is a trusted population health management solutions organization that pioneered and continues to innovate employer provided on-site and near-site primary care and occupational health at significant cost savings. The Nashville-based health care leader utilizes health centers, TeleHealth, and has recently launched eHealth™ Centers, utilizing an on-site nurse and a secure, HD video connection to the provider.  Started in 2004 and known for its patient-centered approach and delivering its care with enthusiasm and compassion, CareHere cares for patients in 28 states and 200+ health centers nationwide. For more information, please visit www.carehere.com.