Ontario Systems Announces Investment from New Mountain Capital

MUNCIE, Ind.—Ontario Systems, a leading provider of enterprise software that automates complex workflows and accelerates revenue recovery for clients in the healthcare, accounts receivable management (ARM), and government markets, has entered into a definitive agreement to partner with New York-based New Mountain Capital, a leading growth-oriented investment firm with over $20 billion in assets under management. With its purchase of a majority share in Ontario Systems, New Mountain Capital will replace Arlington Capital Partners as the Company’s largest investor. Terms of the transaction were not disclosed.

Founded in 1980, Ontario Systems has nearly 500 employees in 28 states and serves its customers from its headquarters in Muncie, IN, and additional offices in Vancouver, WA, and Albuquerque, NM. Ontario Systems counts among its customers 600+ hospitals—including five of the 15 largest hospital networks—that actively manage over $40 billion in receivables collectively, as well as eight of the 10 largest ARM companies and more than 600 federal, state, and municipal government clients in the U.S. Together, Ontario Systems’ customers handle more than $170 billion in payments annually. In recent years, Ontario Systems has enjoyed record revenues, profitability, and growth by helping clients simplify their operations, lower costs, and recover more revenue.

“This is an exciting time in Ontario’s history, and partnering with New Mountain Capital is a natural step in our progression as we continue to execute on company-wide strategic initiatives,” said Jason Harrington, President of Ontario Systems. “The New Mountain team’s expertise in growing software businesses will be invaluable as we look to deepen our revenue cycle management (RCM) offerings and continue providing our customers market-leading solutions they have come to trust. Building on the momentum of this transaction, I look forward to working closely with New Mountain to unlock unique growth opportunities.”