August 30, 2018 - ARM/RCM Issue:
Middle-Market M&A:  After ACA Angst, Healthcare M&A Remains Strong - 3 Sectors to Watch

By: Meghan Daniels
Uncertainty has plagued healthcare organizations and investors ever since Donald Trump's election in 2016.

"There was a lot of angst, and rightfully so, about how efforts to repeal and replace the Affordable Care Act were going to disrupt the interest in healthcare M&A," says Dexter Braff, president of Pittsburgh-based healthcare investment bank The Braff Group.

News You Can Use
CEOs, Do Your Due Diligence, Don't Just Respond to Theirs  
By:  Danielle Fugazy  
It used to be the business owners sold their companies outright to a strategic acquirer or a financial buyer or handed it down to family members. Today, many business owners are opting to take partial liquidity and stay on with the business. This option is a rather good one for business owners who may want to buy out other stakeholders or want a new partner, but aren't ready to walk away from the business altogether.

5 Mistakes Commonly Made by Sellers
By:  Tom Edens 
  1. Business Operations - Not operating the day-to-day business at the historical sustained level as their focus is diverted to the transactions process.
  2. Inadequate Planning - Not planning for the exit of the business, but instead reacting impulsively when approached by an acquirer on their deal terms.
  3. Negotiation - Trying to win every point of negotiation instead of focusing on the strategies to achieve the big win.
  4. Financial Records - Financial statements and other supporting records are not in order or audited by quality firm.
  5. Shift of Leverage - Not understanding the significant shift of deal leverage to the acquirer once the letter of intent is signed.
ARM/RCM - Recent Industry Transactions
Target Description 
May 2018
TransUnion (NYSE: TRU)   
Healthcare Payment Specialists 
Helps healthcare providers optimize Medicare reimbursement 
May 2018 
Intermedix Corporation 
Provides RCM, practice management and data analytics services 
June 2018
SKO Brenner American  
Commercial ARM company 
June 2018
Provider of omnichannel customer experience management, back-office, human resources and financial & administrative services
June 2018
Convergys Corp (NYSE:  CVG)  
Provides customer experience outsourcing 
July 2018  
Private Placement - Accel-KKR / BlueCross BlueShield Venture Partners 
Patientco    Patient billing and payment technology company 
A ug 2018  
Performant Corp.  (NASDAQ:  PMFT) 
Premiere Credit 
Provider of recovery services to government, student loan and commercial clients 
August 2018 
Credit Control, LLC 
Regional Adjustment Bureau, Inc.
Provides receivables management services and recovery  

About Us  

Marion Financial Corp. is a merger and acquisition advisory firm based in Houston, Texas.  Marion Financial has had an industry focus in the Accounts Receivable Management (ARM) and Revenue Cycle Management (RCM) sectors since 1995.

Tom Edens


713-988-8000 ext.111  

Marisa Fiorito

Director - Financial Analysis

713-988-8000 ext.114 

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M&A Transactions and settlements offered through McLean Securities, LLC, member FINRA/SIPC.