eSolutions Receives Strategic Investment from Francisco Partners
Press Releases — Jan 09, 2015
Additional Capital and Expertise to Support eSolutions’ Growth Strategy
eSolutions, Inc., a leading provider of healthcare technology and analytics solutions, announced today that it has received a significant strategic investment from Francisco Partners (FP), a leading technology-focused private equity firm with a significant track record in healthcare IT. The agreement is expected to close in the first quarter of 2015, subject to customary regulatory approvals.
Furthermore, eSolutions also announced that Gene Creach, current president of eSolutions, will succeed founder and current CEO Bill Creach as chief executive officer following the close of the transaction. Bill Creach will remain active with the company as a member of its board of directors.
eSolutions is a leading provider of healthcare revenue cycle management solutions that uniquely address the needs of over 2,500 healthcare providers across the acute and post-acute care landscape. The company provides a suite of cloud-based applications that optimize providers’ revenue cycle processes through built-in workflow automation, sophisticated analytics, and flexible reporting solutions. These tools provide unparalleled insight and functionality across all types of payers, spanning Medicare, Medicaid, and the universe of commercial insurers.
“eSolutions has worked hard over the past 16 years to develop industry leading software that delivers meaningful and long standing value to our customers,” said Bill Creach, CEO and founder of eSolutions. “We look forward to partnering with Francisco Partners and believe that together we can enhance and accelerate the profound growth opportunity in front of the company.”
“The Francisco Partners team has significant experience working with high-growth technology companies in revenue cycle management and across the healthcare IT and outsourcing sectors,” said Gene Creach, president of eSolutions. “They understand the significance of the opportunity ahead of eSolutions and will be a great partner as we execute on our strategic vision.”
“eSolutions delivers an unmatched value proposition across the entire acute and post-acute care continuum,” said Ezra Perlman, a partner at Francisco Partners. “The company is well positioned to address the significant challenges healthcare providers face, and we look forward to working with the eSolutions team to seize this opportunity.”
TripleTree acted as the exclusive financial advisor to eSolutions.
eSolutions is a provider of revenue cycle management analytics and cloud-based workflow software. The Company’s products provide actionable intelligence and workflow automation across critical revenue cycle management processes, including claims & billing management, eligibility, denials & audit management, and advanced reporting & analytics. The Company also provides nationwide Medicare connectivity across all nine MACs. eSolutions’ customer base is comprised of over 2,400 organizations consisting of more than 13,000 hospitals, home health and hospice providers, skilled nursing facilities, durable medical equipment providers, and several other provider types.
About Francisco Partners
Francisco Partners is a global private equity firm that specializes in investments in technology companies. Since its launch over a decade ago, FP has raised approximately $7 billion and invested in more than 100 technology companies, making it one of the most active investors in the industry. The firm invests in transaction values ranging from $50 million to over $2 billion, where the firm’s deep sub-sector knowledge and operational expertise can help a company realize its full potential.