CorroHealth emerges as a leader in healthcare reimbursement solutions, following merger of four industry players
DALLAS—Sept. 30, 2020—Four healthcare services and technology organizations have launched under a combined brand —CorroHealth. CorroHealth, Visionary RCM, T-System and RevCycle+ joined forces to provide a greater breadth of reimbursement cycle, risk adjustment and quality solutions to health systems and payers. Global investment firm The Carlyle Group (NASDAQ: CG) owns a majority stake in CorroHealth, with Cannae Holdings, Inc. (NYSE: CNNE), Sanaka Group, and affiliates of TripleTree Holdings also serving as investors.
CorroHealth—driven by helping clients navigate regulatory and compliance complexities, to ease physician burdens and improve financial outcomes—emerges at a time when financial health is particularly important for health systems and payers.
“We knew health systems and plans would have a growing need for our solutions, so we worked hard and found a way to bring all 4,000 employees together as one company, united by our core,” said CorroHealth CEO Patrick Leonard. “At CorroHealth, we will drive results for our clients with our scalable solutions, clinical expertise, and our ability to manage across the continuum of complexity and value.”
CorroHealth combines the industry-leading domestic middle revenue cycle group of CorroHealth, with the full-service global delivery model of Visionary RCM, the emergency documentation technology solutions of T-System, and the advanced coding solutions of RevCycle+.
“Our new and unified brand name speaks to our mission to advance health by connecting people to the right solutions at the right time,” added Patrick. “We are proud of our fully integrated team and excited for the growth journey ahead.”
“We see the highly complementary nature of CorroHealth’s solutions as uniquely able to add value for health system and health plan customers,” said Joe Bress, a Principal specializing in healthcare at The Carlyle Group. “We’re excited to partner with Pat and the Company’s leading management team to help build the CorroHealth platform.”
“We believe CorroHealth is well positioned for organic and inorganic growth opportunities,” added fellow Carlyle Principal James Shillito. “Carlyle and the entire investor group look forward to supporting this growth going forward.”
The four legacy company names will remain through the end of 2020 with a final move to the CorroHealth name across all companies beginning January 1, 2021.
Equity capital for the investment came from the Carlyle Equity Opportunity Fund II that makes majority and strategic minority investments primarily in the U.S. in targeted industries, including healthcare.
About CorroHealth
CorroHealth is the leading provider of clinically led healthcare analytics and technology-driven solutions dedicated to positively impacting the financial performance of hospitals and health systems. With more than 8,500 employees worldwide, CorroHealth delivers integrated solutions, proven expertise, intelligent technology, and scalability to address needs across the entire revenue cycle. To learn more, visit corrohealth.com.
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Media Contact:
Mellissa Gardner, Senior Vice President of Marketing
mellissa.gardner@corrohealth.com
