Brentwood Capital Advisors Serves as Exclusive Financial Advisor to Rycan Technologies, Inc.
Brentwood Capital Advisors is pleased to announce that it served as the exclusive financial advisor to Rycan Technologies, Inc. (“Rycan” or the “Company”) in its sale to Healthland, Inc. (“Healthland”), a portfolio company of Francisco Partners.
Headquartered in Marshall, Minnesota, Rycan is a leading provider of web-based revenue cycle management (“RCM”) software that enables hospitals to increase revenue, accelerate reimbursement and improve employee efficiency. Its easy-to-use software allows RCM professionals to streamline the billing and remittance processes with one comprehensive and fully-integrated system, maximizing reimbursement and payer contract compliance. Healthland is a leading provider of comprehensive healthcare information systems to rural community and critical access hospitals. With the acquisition of Rycan, Healthland builds a foundation to offer a full suite of RCM software and service solutions to help its customers meet their growing RCM needs.
“The cultural fit was very obvious for both companies, but most importantly, our loyal customers will benefit from Healthland’s commitment and ability to invest in the Rycan solution. Our current customers will be very well-served, plus the company will thrive with geographic expansion and increased product development,” said Ryan Ellefson, CEO and Founder of Rycan. “Brentwood Capital Advisors, our investment banker in this transaction, did extraordinary work for the Rycan shareholders. I picked a great company to advise me in this process and could not be happier with the outcome.”
“Rycan’s integrated SaaS platform is a market-leading solution supporting claims workflow, electronic remittance advice and denial and audit management. The integration with Healthland will significantly enhance Healthland’s revenue cycle product suite and enable them to better serve their broad client base of both acute care and long-term care facilities,” added Porter Meadors, Vice President of Brentwood Capital Advisors. “We enjoyed serving as the exclusive financial advisor to Rycan and working with Ryan Ellefson and his team.”
About Rycan Technologies
A leader in healthcare revenue cycle software for nearly 30 years, Rycan has built its reputation by providing best-of-breed solutions accompanied by an unparalleled level of customer support. Rycan solves business office problems through comprehensive solutions to maximize reimbursement while increasing productivity. For more information, please go to www.rycan.com.
About Brentwood Capital Advisors
Based in Franklin, Tennessee, Brentwood Capital Advisors is one of the South’s leading boutique investment banks that provides 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 in over 67 successfully closed transactions totaling over $4.2 billion in value in these sectors. Founded in 1999, the firm is partner-owned and has fifteen investment banking professionals. For more information, please go to www.brentwoodcapital.com.