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Centauri Health Solutions Adds New Analytics Capabilities with Acquisition of AppRev

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Deal enhances Centauri’s market leadership in hospital revenue cycle optimization

Centauri Health Solutions, an innovative healthcare technology and services company, announced that it has acquired Applied Revenue Analytics, a Texas-based healthcare business intelligence company, from OSG Billing (“OSG”), introducing a complementary line of hospital revenue cycle performance services to Centauri’s comprehensive solutions that encompass Medicaid and Disability Eligibility and Enrollment, as well as Out-of-State Medicaid Billing services.

AppRev delivers technology-enabled revenue cycle optimization services in a Software-as-a-Service (SaaS) model. Products include Pricing Analytics, Charge Accuracy, Denials Intelligence and Pricing Transparency, serving more than 120 hospital clients throughout the U.S. and Bermuda.

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“AppRev is proud to be joining one of the nation’s fastest growing healthcare services companies,” said Seth Avery, Co-Founder, President and Chief Executive Officer of AppRev. “Joining our software-based services to Centauri’s broad scope of eligibility/enrollment and Medicaid billing solutions creates an unmatched suite of revenue cycle optimization solutions to hospital clients nationwide.”

For Centauri, the addition of AppRev marks its second recent strategic acquisition in hospital revenue optimization. In December 2019, Centauri acquired Integrated Health Management Services (“IHMS”), a Phoenix-based provider of revenue-cycle management services specializing in patient screening for Medicaid enrollment as well as billing and claim payment reconciliation. AppRev brings a complementary set of revenue cycle management solutions to Centauri.

“Adding AppRev and their best-in-class hospital analytics service offerings to our growing portfolio of companies provides immediate value to our customers and supplements Centauri’s existing revenue accretive solutions to healthcare providers,” said Adam Miller, Centauri CEO and co-founder. “In launching Centauri just six years ago, the goal was to strategically grow to provide what is missing in the marketplace. We continue to do that by offering broad solutions tailored to the unique and changing needs of our industry.”

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The combined organization will be led by Miller, with Avery serving as President of AppRev.

“This is exactly the type of industry alignment Abry envisioned when we became Centauri’s lead investor late last year. We look forward to working with Centauri’s leadership team to continue to broaden the capability set and enhance the exceptional value the Company brings to its rapidly growing base of clients and consumers,” said Nick Scola, Partner at Abry Partners.

The AppRev transaction was also supported by Centauri’s other key investors, Silversmith Capital Partners and SV Health Investors. Citizens M&A Advisory acted as a financial advisor to OSG. Weiss Brown LLP acted as legal counsel to Centauri and Nelson Mullins acted as legal counsel to OSG. Financial terms of the acquisition were not disclosed.

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