ST. LOUIS, MO.
Outsourcing Solutions Inc. (?OSI?) announced today that, through a newly-formed limited liability company, Coast-to-Coast Consulting, LLC, it had acquired certain assets and assumed certain liabilities of Coast-to-Coast Consulting, Inc. (?CCC?). Terms of the purchase were not disclosed.
With the acquisition of CCC, OSI expands its position as a business outsourcing firm. CCC provides highly skilled experts to a large group of healthcare clients. The services provided assist their clients with on-site, back office functions such as billing, collections, cash posting, special projects, and other areas. The combination of OSI and CCC creates a company capable of offering services across a broader spectrum of the business outsourcing market, particularly within the under-served healthcare market. By providing additional services beyond its core competency of receivables management, OSI will further enhance its client relationships.
According to Tim Beffa, President and Chief Executive Officer of OSI, ?CCC’s on-site business office services fit with OSI’s desire to aggressively expand its business outsourcing services across a broader spectrum of healthcare organizations. We see numerous advantages – their business is compatible with our existing businesses, and they will provide OSI with a stronger foothold in on-site business office services.?
CCC will become a business unit of OSI reporting to Daniel Picciano, Group President of OSI Healthcare Services. Robert Frasier, who founded Dallas, TX-based CCC, will continue as President of the unit. He has more than 20 years of experience in the industry.
About OSI
This is the ninth acquisition by OSI since its formation in September 1995.
OSI is the leading provider of receivables management services with a list of blue chip clients in Healthcare, Bank Card/Financial, Telecom/Utilities, Government and Education industries. It provides large consumer and business-to-business credit grantors with comprehensive receivables management services, from credit usage and management to outsourcing of pre-charged-off receivables, to contingent collection of delinquent debts, to purchasing portfolios of charged-off debt.
Based in St. Louis, MO, OSI operates in 27 states and has industry-focused ?Centers of Excellence? in 58 locations as well as branches in Mexico, Puerto Rico and Canada.
Note: Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although OSI believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. These uncertainties are more fully described in the Company’s filings with the Securities and Exchange Commission.
