Brentwood Capital Advisors Serves as Exclusive Financial Advisor to Aviacode
Brentwood Capital Advisors is pleased to announce that it served as the exclusive financial advisor to Aviacode, an innovative provider of technology-enabled medical coding services, in a strategic investment by Heritage Group, a Nashville-based healthcare investment firm.
“The Heritage investment is significant to us as a company. It represents not only a financial opportunity to expand our cloud-based technology and coding solutions in the revenue cycle management markets, but also a strategic opportunity to collaborate with experts from within the Heritage limited partnership base. We are already seeing strategic value in those relationships,” said Dave Jensen, CEO of Aviacode.
“We are very pleased to partner with Aviacode, which has developed a differentiating technology platform and built a leading medical coding operation over the last decade,” said Rock Morphis, Managing Director of Heritage Group. “This funding will enable Aviacode to further accelerate its record growth trajectory and increase its capacity to deliver innovative medical coding solutions to new customers. We are proud to be part of that effort.”
This investment adds to the portfolio of companies for the Heritage Healthcare Innovation Fund (HHIF) and furthers Heritage Group’s mission to fund solutions that meet the needs of its strategic investors. Heritage Group’s strategic investors represent the entire continuum of healthcare delivery, including health systems, payors, post-acute providers, and medical distributors. HHIF’s limited partner base is comprised of Amedisys, Inc., Cardinal Health, Inc., Community Health Systems, Health Care Service Corporation, Intermoutain Healthcare, Iowa Health System, LifePoint Hospitals, Memorial Hermann Healthcare System, Trinity Health, and Vanguard Health Systems.
Aviacode is the industry leader in technology-enabled medical coding services since 1999. Aviacode’s cloud-delivered coding applications, ProCoder and ProAuditor, enable professional medical coders and coding auditors to create consistent, reliable and predictable coding results and document reviews. Aviacode’s proprietary technology and workflow improves the accuracy and efficiency of medical coding, which is the process of translating clinical documentation into diagnosis and procedure codes, which is at the heart of healthcare revenue cycle. These improvements impact hospitals and physician groups profoundly through improved efficiency, increased revenue and strengthened cash flow. For more information, visit www.aviacode.com.
About Brentwood Capital Advisors LLC
Brentwood Capital Advisors LLC, founded in 1999, is a privately held investment bank headquartered in Nashville, Tennessee, providing mergers & acquisitions and capital-raising advisory services to middle-market companies in the healthcare, information technology, financial services and business services sectors. BCA has served as exclusive financial advisor in over 50 successfully closed transactions in these sectors. For more information, visit www.brentwoodcapital.com.
About Heritage Group
Heritage Group is a Nashville-based, venture capital firm with over 25 years of experience financing, operating and advising companies at all stages. Created by a diverse group of the nation’s leading healthcare services firms, the Heritage Healthcare Innovation Fund is a $167M strategic initiative focused on investments in businesses that improve the delivery of healthcare services. For more information, to www.heritagegroupusa.com.