Dallas, TX (Jan 8, 2019) – Credence Global Solutions parent company, Kriya Capital, a Dallas based private equity firm with holdings positioned in the healthcare, telecommunication, technology and BPO sectors, announced today the acquisition of Receivable Solutions Specialist Inc., (RSSI) effective January 7, 2019.
Headquartered in Natchez, Mississippi, RSSI delivers a suite of revenue cycle management services to healthcare organizations, including one of the largest Occupational Care and Urgent Care providers in the U.S.
“We are pleased to welcome RSSI to our family of companies. Occupational healthcare is a niche vertical encompassing a unique array services to benefit employers and their workers.” Karan Negi, Kriya Capital and Credence Global Solutions Managing Partner, said about the transaction.
“This acquisition aligns with our growth strategy of investing in Healthcare Revenue Cycle Management opportunities and the acquisition of other companies providing innovative solutions across the Receivables Management Spectrum.” he added.
“Vision 2020 is our strategic initiative to achieve $100MM in total servicing revenues from portfolio companies managed by Credence Global Solutions. RSSI is our first acquisition and an important component to broaden scale, revenue and visibility in the healthcare sector. To meet our objectives, we will focus on organic and strategically positioned, inorganic opportunities. We plan to aggressively pursue quality assets in the future.” Mr. Negi stated.
Bruce Brice, owner of RSSI, will stay with the company which he founded in 2002 and will spearhead the marketing of occupational healthcare solutions.
“This transaction is the next logical step in RSSI’s evolution. Credence Global Solutions and the family of companies, products and technologies exponentially deepen our bench, strengthen our skill sets and will provide resources to increase our footprint with clients we presently serve and new ones in the pipeline.” Mr. Brice said.
“RSSI specializes in the resolution, appeal, resubmission and recovery of occupational care claims, including workers’ compensation and denial management. This is a niche discipline of immense value to our clients who deal with the treatment of work related injuries and employee wellness issues.” Stated Nafeesa Khandwala, a Kriya Capital and Credence Global Solutions Managing Partner.
“Bruce and his team bring domain expertise that immediately enhances the scope of services we already deliver to a diverse community of healthcare providers and professionals. The RSSI acquisition adds bandwidth and new capabilities to Credence Global Solutions and will benefit any medical enterprise facing occupational claim challenges.” She said.
The deal will be financed by internal accruals of cash. Other Financial terms were not disclosed. The transaction is effective on January 7, 2019.
About Credence Global Solutions
Headquartered in Dallas, TX with over 2,500 employees worldwide, Credence Global Solutions offers technology, human resources and offsite infrastructure solutions and services within the Revenue Cycle and Accounts Receivable Management world for healthcare, telecommunications, utilities, media & entertainment companies.
To learn more about Credence Global Solutions, visit www.credencegs.com.
About Kriya Capital
Headquartered in Dallas, TX, Kriya Capital is a private equity firm with holdings in healthcare, telecommunication, technology and BPO sectors.
To learn more about Kriya Capital, visit www.kriya-capital.com.