Announces New Board of Directors, including Richard Thomas, Miki Kapoor, Rand Ballard, and Nick Giannasi.
Linden Capital Partners (“Linden”), a Chicago-based private equity firm focused exclusively on the healthcare industry, announced the completion of its acquisition of Aspirion (the “Company”), a leader in technology-enabled healthcare revenue cycle management (“RCM”), from Aquiline Capital Partners. Varsity Healthcare Partners (“VHP”), a healthcare services private equity firm with RCM investing experience through its portfolio company Ventra Health, joined the ownership group as a minority shareholder.
Aspirion is a leading provider of RCM services for complex claims and revenue integrity, offering a broad array of technology-driven solutions for the most specialized revenue cycle challenges faced by hospital systems and healthcare providers. Leveraging its unique data access and proprietary platforms, the Company has invested in artificial intelligence (“AI”) and machine learning (“ML”) models to automate claims processing workflows, improve claims processing times, and ultimately increase collections for its hospital and physician customers.
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Richard Thomas, industry veteran and incoming Chairman of the Board, said, “We commend Jason Erdell and the Aspirion team. They have built a truly differentiated company providing complex claims and revenue integrity solutions, delivered with industry leading customer service. The healthcare regulatory landscape is changing and more complex than ever, creating robust demand for Aspirion’s services. We look forward to supporting the Company through its next chapter of growth, and accelerating the development of its technology, AI/ML, and data foundation.”
To support Aspirion’s growth plan, Linden has assembled a Board of Directors that brings considerable expertise in software, data, and AI/ML solutions, along with deep RCM industry knowledge. The new Board will work closely with the Aspirion team to help realize Linden and management’s shared vision to drive a step change improvement in RCM solutions, providing better outcomes for healthcare providers, and ultimately the patients they serve.
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“We are thrilled to partner with Linden,” Aspirion CEO Jason Erdell added. “We are impressed with the vision Linden brings for our next chapter, as evidenced by the firm’s thoughtful approach to value creation planning and the experienced Board of Directors that Linden has assembled. We are confident we have the strategic plan and expertise to continue our growth trajectory and drive technological advancement in the industry.”
The board is composed of Miki Kapoor, Operating Partner at Linden and founding CEO of Verana Health, Rand Ballard, Chief Customer Officer at Vizient and previously Chief Operating Officer, Chief Customer Officer and in the Office of the Chief Executive Officer at MedAssets, Nick Giannasi, Chief Product Officer at Ciox and former Chief Artificial Intelligence Officer at Change Healthcare, Jason Erdell, Richard Thomas, Linden Partner Kam Shah, Linden Vice President Arsi Sefaj, and VHP Managing Partner David Alpern.
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