LOS ANGELES, August 6, 2015 – Marlin Equity Partners (“Marlin”) is pleased to announce that it has signed a definitive agreement to acquire AdvancedMD from ADP (NASDAQ:ADP). The transaction is subject to customary closing conditions and is expected to close in Q3 2015. Raul Villar, who is currently the president of ADP AdvancedMD, will become CEO of the new independent company.
AdvancedMD is a leading provider of cloud-based practice management (“PM”), electronic health records (“EHR”) and revenue cycle management (“RCM”) software solutions to the independent physician practice market. The company offers a fully integrated suite of cloud-based PM, EHR, RCM, and patient relationship management, as well as big data reporting and business intelligence tools designed to help physicians and medical professionals automate and optimize workflow in all areas of the practice. AdvancedMD’s solutions are proven to accelerate revenue capture, streamline workflow and productivity, facilitate improved patient health, and simplify costly and complex medical claims processing and billing procedures. AdvancedMD’s expansive national footprint serves over 7,500 practices, 17,500 physicians and 500 billing companies.
“We are thrilled to take the next step in our extraordinary journey as the largest provider of cloud-based clinical and financial solutions to small, independent medical practices,” commented Raul Villar, CEO of AdvancedMD. “Marlin Equity Partners is a perfect fit for AdvancedMD as they are committed to our vision of enabling medical practices to increase cash flow, reduce administrative burdens and improve patient care. Under Marlin ownership we are well positioned to accelerate product investment and will continue to deliver best-in-class implementation and service to our loyal clients and partners.”
“AdvancedMD’s cloud-based technology along with its unmatched sales, marketing and implementation model provides a scalable platform to execute several growth initiatives already underway,” said Michael Anderson, a principal at Marlin. “We believe that AdvancedMD is poised to continue its impressive growth and we look forward to providing financial and operational support to help expand and enhance the company’s product solutions to meet the evolving needs of the rapidly changing healthcare IT market.”
About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with over $3 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 90 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.
AdvancedMD is a leading provider of cloud-based PM, EHR and RCM solutions focused on the independent physician practice market. The company’s comprehensive portfolio allows physicians to drive additional revenue and reduce administrative burden by automating medical practice processes, optimizing patient schedules and encounters, streamlining insurance claim creation, managing prescription and order processes, and tracking and analyzing financial performance. AdvancedMD is widely recognized as a leader in its industry, and has earned the #1 ranking from KLAS, the leading independent industry analyst, in a number of categories including product quality, functionality and integration. For more information, please visit www.advancedmd.com.
For additional information, please contact Peter Spasov at (310) 364-0100 or via e-mail at email@example.com.