Marina Medical Billing Service, Inc. provides revenue cycle management services to emergency department physician groups. The Company was majority owned by Prospect Partners.
Brookwood advised the shareholders of Marina Medical Billing Service, including its majority owner, Prospect Partners, on the sale of the Company to American Capital Strategies.
Thorough, Effective Process – After conducting a thorough due diligence process, Brookwood (i) drafted a comprehensive information memorandum and management presentation that clarified the complexities of this niche industry segment and (ii) worked with management to incorporate several favorable industry dynamics into the memorandum and financial projection model to denominate the various components of MMBS’s upside potential.
Run Rate Presentation – The Company had grown in excess of 20% per year over the past several years through the addition of new customers which mature over an 8-month period. Prior to Brookwood’s marketing of the business, MMBS increased its new customers substantially. Therefore, Brookwood presented a run rate reflecting these new additions at a mature state, which was accepted favorably by potential buyers as a benchmark on value.
Strong Marketing and Negotiating – Brookwood led a broad marketing process that included numerous strategic companies and private equity groups focused on healthcare and business services investments. The process generated attractive results from potential buyers, and far exceeded expectations of the owners and management.