GPB Capital, a New York-based alternative asset management firm, has acquired a majority ownership stake in Health Prime International, a provider of practice management and revenue cycle management solutions for U.S. medical practices. Terms of the transaction were not disclosed.
“Independent medical practices are always seeking new ways to streamline their billing and practice management processes so they can focus as much as possible on just treating patients,” said Michael Frost, managing partner of GPB Capital responsible for the firm’s technology enabled services investments.
GPB Capital plans to help HPI enhance its business by working closely with the management team to develop the sales and operational infrastructure needed to continue scaling. In addition, GPB seeks to optimize HPI’s product offerings by unlocking synergies with its other healthcare IT portfolio companies.
Headquartered in National Harbor, Maryland, HPI provides revenue cycle management, electronic health record, transcription, and practice management services to medical practices across the US.
GPB Capital focuses on acquiring or investing in income-producing companies and assets and has raised more than $1.5 billion in capital.