Welsh, Carson, Anderson & Stowe, a private equity firm focused exclusively on the healthcare and technology industries, has acquired Argos Health, a provider of claims revenue cycle services to health systems.
Brent McCarty, Argos Health chief executive officer said, “Joining with WCAS will allow us to expand our reach at a time when revenue recovery services have never been more critical for the healthcare industry. We are excited to find such a strong partner to support our next stage of growth, given WCAS’s 40-plus year history of growing healthcare companies and deep relationships with healthcare systems. In addition, WCAS brings strong technology capabilities to drive increased automation as we scale going forward.”
“We believe Argos Health has the potential to become a first-of-its-kind Specialized Revenue Integrity platform to help providers recover hard-to-capture payments of all types,” said Ed Sobol, general partner at WCAS. “We have known Brent McCarty for a long time, having worked with him previously when he served as President and COO of Accuro Healthcare, a former WCAS portfolio company. We are thrilled to partner with the Argos team to scale the platform organically and through acquisitions, while helping hospitals improve collections and re-invest in care delivery.”
“Argos Health is a natural fit for WCAS given our extensive experience partnering with management teams to build leading healthcare companies,” Caroline Dechert, principal at WCAS, added, “We are enthusiastic about supporting Argos to accelerate its growth and add capabilities to further enhance its value proposition across a broad range of healthcare providers.”
WCAS’s current portfolio includes healthcare businesses such as CenterWell, InnovAge, MMIT, Shields Health Solutions and U.S. Anesthesia Partners.