Delancey Street Partners is pleased to announce that we served as financial advisor to Alegis Revenue Group (“Alegis”), a leading national third-party receivables company serving the healthcare industry, in its sale to MedData, Inc., an affiliate of MEDNAX, Inc. (NYSE: MD).

Delancey Street partnered with Alegis to assess, evaluate and explore strategic alternatives. We managed a competitive sell-side M&A process and negotiated the terms of the Transaction.

Founded in 2008 by healthcare executives, Alegis specializes in revenue recovery on accounts that require heightened expertise, labor and capital. Services include third party eligibility, third-party liability, and account resolution and appeals. Alegis manages more than $3 billion in charges for more than 240 hospitals nationwide and is focused on helping clients navigate the complex, and constantly evolving, federal and state regulatory environments in order to maximize revenue. Their patient advocacy approach to eligibility and enrollment reduces revenue cycle time from referral to remittance – improving patient satisfaction and boosting the bottom line for clients. Alegis is based in The Woodlands, Texas.

MedData is one of the nation’s leading providers of a range of patient focused medical revenue cycle management services including billing, coding, collections and patient satisfaction. MedData was acquired by MEDNAX in 2014. MEDNAX, Inc. is a national medical group comprised of the nation’s leading providers of neonatal, anesthesia, teleradiology, maternal-fetal and pediatric physician subspecialty services. In addition to its national physician network, MEDNAX provides complementary services to medical providers in more than 40 states through its revenue cycle management and consulting services business lines.