September 15, 2017 - ARM/RCM Issue:
Middle-Market M&A:  7 Ways PE Firms are Evolving
By: Danielle Fugazy, Mergers & Acquisitions
Substantial changes in the private equity industry have occurred in the last few years. PE firms are quickly adapting to compete with other PE firms and with strategic acquirers for capital and deals.

News You Can Use
4 Types of Analytics Every Business Should Track 
By:  Gary Samoluk 
Businesses today are inundated with data from a wide range of sources: accounting, manufacturing, websites, CRM, etc. The larger the company, the more data. Too often management can be so overwhelmed with data and analytics that it begins to lose its value.

6 Key Valuation Drivers of an ARM/RCM Business
By:  Tom Edens 
  1. Size of Company - The larger the company, typically the larger the EBITDA multiple.
  2. Management - Executive team in place with tangible P&L success in ARM/RCM.
  3. Growth & Sustainability - EBITDA & Revenues are sustainable and growing.
  4. Concentration of Clients  - The higher the concentration of clients, the more likely an earnout and/or valuation reduction.
  5. Scalable - Systems/Infrastructure in place and scalable to support growth.
  6. Market Niche - Certain niches now preferred are Healthcare RCM, Government & Student Loans.
ARM/RCM - Recent Industry Transactions
Target Description 
April 2017
Sirrus Group  
Patient Account Services, LLC 
Provides RCM and ARM services to the healthcare industry  
June 2017
Aergo Solutions 
Merger of two RCM technology and services firms  
July 2017
Gladstone & Co 
Canadian ARM of Alorica   
1st and 3rd party Canadian collection business  
Aug 2017 
Eastern Revenue,Inc. 
Remit Corporation  Regional collection agency 
Aug 2017 
Primus Capital  EnableComp LLC  Healthcare technology enabled services company 
Aug 2017 
BARR Credit Services, Inc. 
Credit Decision International, Ltd. 
Commercial ARM company  

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.11

Marisa Fiorito

Director - Financial Analysis

713-988-8000 ext.14 


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