TA Associates, a global private equity firm, has agreed to make a significant growth investment in Alpha II, a provider of revenue cycle management (RCM) technology services to healthcare providers.
Founded in 1983, Alpha II offers a rules engine that lets providers identify coding errors to help with appropriate reimbursement, minimize denials and increase staff productivity. Through a software-based platform, Alpha II has expanded its services into insurance verification, denials prevention and merit-based incentive payment system (MIPS) reporting. As part of the transaction, existing shareholder WestView Capital Partners will reinvest alongside TA to maintain a minority position in the company.
“As medical coding complexity grows and providers demand increasingly advanced solutions, we aim to support the expansion of Alpha II’s product suite via organic and acquisition-driven growth, while continuing to deliver ROI for our customers,” states Mark Carter, managing director and co-head of the North America.
Kirkland & Ellis provided legal counsel to TA. William Blair served as financial advisor and Latham & Watkins served as legal advisor for Alpha II and WestView.