Following a recent string of exits, today we announce the acquisition of portfolio company Aspirion Health Resources, netting a return of more than five times its initial investment. The healthcare technology startup uses a tech-enabled proprietary claims process to help hospitals mitigate the average $8.6 billion spent on claims-related administrative costs each year.
As our CEO Mark Buffington shared in the announcement: “Aspirion provides a winning combination of process and technology to help hospitals settle traditionally hard-to-settle claims. We’re very proud of the growth Aspirion has achieved due to its unique approach to solving a painful problem in the healthcare system, and we’re especially thankful to its leadership team for driving such a successful exit for our investing partners.”
As hospitals move from volume-based to value-based care models, value propositions are changing for both provider and patient. Thinner profit margins make the settlement of existing reimbursement claims increasingly important for a hospital system’s bottom line.
BIP Capital first invested in Aspirion Health Resources in 2012. Since then, Aspirion has grown 17 percent year over year by emphasizing the following:
- A strong focus on leadership development
- Adding business lines unique to the market
- Operational expertise in the healthcare space
Aspirion is one of a number of healthcare industry companies in our portfolio. In May, we announced that we led a Series A Funding of $10.5M for PriorAuthNow. And, the acquisition of REACH Health was announced in late April.
>> Read the full news release on PR Newswire.