MTS Health Investors LLC has backed Accuity Delivery Systems LLC, a provider of clinical documentation and coding services. Financial terms of the agreement were not disclosed.
Accuity is a revenue cycle management business that provides clinical documentation improvement technology, coding, and client education services for the healthcare sector. The New York-based target enables physicians to apply practice protocols for care delivery, and ensures that providers are equipped with the necessary documentation skills so that records accurately reflect the provided clinical services. Accuity also offers business intelligence and technology services, which focus on IT integration and analytics.
MTS Health is the private equity fund arm of New York-based financial service firm MTS Health Partners LP. As part of the deal, the firm will also gain Accuity’s additional office in Las Vegas. In 2016, MTS Health raised $365 million in funding to make healthcare investors. The firm also raised a $188 million fund in 2014. McDermott Will & Emery LLP served as legal counsel to MTS Health, while Glaser Weil Fink Howard Avchen & Shapiro LLP acted as legal counsel to Accuity.
Despite uncertainty about the future of healthcare regulation, M&A in the sector has continued. Middle-market deals involving the healthcare, medical and nursing home sectors include: Global Healthcare REIT Inc.’s purchase of Tulsa, Oklahoma-based nursing facility for $2 million; WNS Holdings Ltd.'s (NYSE: WNS) acquisition of management company HealthHelp for $95 million; Genstar Capital’s buying of Bracket Global LLC, a clinical trial technology and data collection service provider; and Thoma Bravo LLC’s purchase of MedeAnalytics Inc., a cloud-based financial performance analytics company for the healthcare industry; Vibra Healthcare LLC’s acquisition of two facilities for $20.7 million from Kindred Healthcare Inc.; and Court Square Capital Partners acquired dental products distributor NDC from Silver Oak Services Partners.