Founded in 1997 to provide secure electronic data transmission, presentation and storage services for dental claims attachments. NEA grew rapidly in the ensuing years and is the number one processor of dental claims attachments.
Brookwood advised National Electronic Attachment and Medical Electronic Attachment on its significant equity raise from Polaris Venture Partners, a Boston based venture capital and private equity firm.
Engagement Process and Outcomes
Transaction Goals – NEA’s CEO and shareholders wanted to: (i) find a partner that would assist the business as it entered its next growth phase; (ii) find a partner that could assist with the transition of the Company’s CEO within three years; (iii) achieve substantial liquidity; and (iv) complete the transaction in a highly compressed time schedule.
Effective Positioning – The Company achieved a first-mover advantage in the healthcare claims attachments processing market and had developed a unique and nascent product. Brookwood conducted thorough research and compiled an information memorandum that effectively marketed the business and its substantial opportunity for growth to both financial and strategic buyers.
Excellent Result – Brookwood’s thorough marketing process yielded significant interest from both financial and strategic buyers. The shareholders selected Polaris Venture Partners which offered the best combination of valuation, fit with the management team and track record.
Press Release Excerpt
We are pleased to announce that Brookwood Associates advised National Electronic Attachment, Inc. and its sister company Medical Electronic Attachment on securing a significant equity investment from Polaris Venture Partners. The founder will continue as President and CEO. NEA and MEA are the leading providers of electronic insurance claims attachment services to the medical and dental markets, addressing a critical link in revenue cycle management. Brookwood effectively educated investors regarding industry payment dynamics, reinforced the Company's defensible market position, and validated the significant growth opportunity. The transaction closed successfully under a tight timeline and despite a difficult credit and deal environment.