MediGain will use $38 mn in growth capital to expand five-fold..!
Prudential Capital Group provides
MediGain with $38mn in growth capital..!
MediGain Health Private Ltd (the Indian counterpart of MediGain LLC), a leading global provider of revenue cycle management (RCM) solutions and analytics for the healthcare industry,has announced that it plans to expand its Indian operations five-fold with the recently-acquired $38 million in growth capital from Prudential Capital Group (Prudential).Deloitte Corporate Finance LLC (DCF) acted as a financial advisor to MediGain and helped facilitate the transaction.
“The $38 million in growth capital obtained by MediGain will have a very positive effect on our operations in Chennai, India,” said Dinesh Butani, Chairman of MediGain, LLC. "Our presence in India will enhance from the current level of 300employees to more than 1500 employees to support new business growth.”
MediGain started its Indian operations with a 20-member team in Chennai in the year 2012 and has now grown multifold and the team has expanded to around 300 members today. MediGain Health Private Ltd is the single-largest “factory direct”RCM service providers in the healthcareindustry and MediGain, LLC. Is one of the fastest-growing RCM companies in the United States.
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MediGain provides a full suite of Revenue Cycle Management services and operates on the top eight practice management systems in Healthcare, while MediGain competitors are hindered by only being able to provide services on a single platform.
Having healthcare industry-leading technology and global resources hasallowed MediGain to grow tenfold over the past four years, providing services to leading physicians and ambulatory surgery centers in United States.
MediGain provides revenue cycle management services for physician’s offices, ambulatory surgery centers, and hospitals. The company specializes in high value and complex medical specialty services and provides early stage as well as delinquent account collections. The highly qualified staff successfully handles commercial insurance, Medicare, Medicaid, and private pay accounts.
About MediGain, LLC
MediGain is a leading provider of revenue cycle management (RCM) solutions and one of the fastest growing medical billing companies in the healthcare industry. The company’s holistic, end-to-end product and service offerings span the entire spectrum of RCM functions, ranging from front-end services such as eligibility verification to back-end services such as accounts receivable collections.
MediGain provides its service offering to over 400 clients, including independent physician groups, hospitals, and ambulatory surgery centers. For more information, visit MediGain’s website at www.medigain.com
About Prudential Capital Group..!
Prudential Capital Group has been a leading provider of private debt, mezzanine and equity securities to companies worldwide for more than 70 years. Managing a portfolio of $68.1 billion as of June 30, 2014, Prudential Capital offers senior debt and mezzanine capital, leveraged leases, credit tenant leases, and equipment finance to companies, worldwide.
The global regional office network has locations in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Minneapolis, Newark, N.J., New York, Paris and San Francisco. For more information, please visitwww.prudentialcapitalgroup.com
About Deloitte Corporate Finance LLC..!
Deloitte Corporate Finance LLC, a FINRA-registered broker-dealer, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. Deloitte Corporate Finance LLC provides deal execution and lead financial advisory services to large corporate, middle market, and private equity firms.
Deloitte Corporate Finance has access to the resources of the Corporate Finance Advisory practices of the member firms (and their affiliates) within the Deloitte Touche Tohmatsu Limited network of member firms. Together with Deloitte Corporate Finance LLC, these practices include in excess of 1,600 professionals, working collaboratively in 150 international locations. Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. For more information, visitwww.investmentbanking.
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