Private Equity Firm Acquires Medical ARM Company Receivables Management Partners
Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced last week that it has partnered with management to acquire Receivables Management Partners (RMP) of Greensburg, Ind. RMP is a leading provider of accounts receivable management and other outsourced revenue cycle management (RCM) services to the healthcare industry. Terms of the transaction were not disclosed.
TSCP acquired the company from private equity firm LaSalle Capital Group.
“We’re extremely pleased to work with such an excellent management team to bring RMP, a leading platform in a strong consolidating market, into the TSCP family and help them build upon their successful history of growth.” said Jim Cooper, Senior Managing Partner, TSCP. “With its winning combination of highly trained employees, best-in-class processes and technology systems, and superior recovery performance, RMP will continue to offer the same strong support to help clients manage their complex revenue cycles and maximize recovered payments for services provided.”
RMP CEO Mark Schabel commented, “We’re all excited to have this opportunity to partner with Thompson Street. We believe this alliance will support our continued growth and help us build upon our long history of successful client partnerships. For us it’s the perfect match.”
LaSalle acquired predecessor company Collection Associates, Inc. in 2007. CAI acquired other medical debt collection agencies a short time after that and later emerged as Receivables Management Partners.
RMP has headquarters in Greensburg, Ind. and additional operations in Illinois and Michigan. The company has approximately 250 employees focused on healthcare receivables management.
Continuing the Discussion