Private equity firm LLR Partners invested in Kemberton Healthcare Services, a provider of technology-enabled revenue cycle management services.
Here are five things to know about the transaction.
1. Founded nearly a decade ago, Kemberton now serves more than 150 hospitals in more than 25 states.
2. Kemberton plans to use the LLR Partners investment "to support company growth, expand sales and marketing, further enhance the company's technology platform and fund strategic acquisitions."
3. As part of the transaction, George Abatjoglou, former president of Provider Solutions at health IT company CIOX Health, will become CEO of Kemberton, according to a news release. Kemberton Co-Founder and CEO Brandon Rife, will still be involved with the company as president and a board member.
4. Commenting on the transaction, Mr. Abatjoglou said: "I am excited to join the team and to partner with LLR again. We have a strong opportunity ahead to expand our client relationships as hospitals look for more efficient ways to resolve their complex claims and maximize their revenue and collections."
5. Financial details of the transaction were not disclosed.