FRANKLIN, TN – EnableComp LLC announced today a major growth investment by Primus Capital (Primus), a private equity firm based in Cleveland and Atlanta. EnableComp, based in Franklin, TN, is a healthcare technology enabled services company that partners with healthcare providers to maximize reimbursement from workers’ compensation payers. The investment by Primus will accelerate EnableComp’s existing foothold as the nation’s leading provider of work comp reimbursement solutions and allow it to expand its portfolio of solutions and client reach.
Serving over 600 hospitals across the country, EnableComp facilitates and simplifies the complex world of the workers’ compensation process through its proprietary industry-leading platform, Enforcer. EnableComp delivers an array of solutions from full day-one outsourcing to collecting on zero balance claims that have been underpaid. Since 2001, EnableComp has processed more than $10 billion in work comp claims processed for its clients. The company has experienced significant and rapid growth in its unique revenue cycle management niche.
“We are impressed with the workers’ compensation RCM solutions that EnableComp has brought to the market and its rapidly growing provider client base. Having a strong management team is critical, and we were familiar with most of the executive team from our previous investment in Passport Health Communications. We think EnableComp’s Enforcer technology is second-to-none in the RCM arena,” said Phil Molner, Managing Partner of Primus. Chris Welch, Principal of Primus, added “EnableComp provides tremendous value to its clients by managing the complexity of work comp claims on their behalf. We look forward to working with the current management team to continue to invest in and grow the business.”
The new funding will allow EnableComp to extend its industry-leading solutions to address emerging challenges in healthcare reimbursement and invest in expanded marketing and sales initiatives.
“We could not have found a better partner than Primus,” said Jim Lackey, current EnableComp Chairman and CEO, who will remain as Chairman. “Primus was one of our key investors when I was at Passport and I know first-hand the value and experience they will bring to our team.”
“Workers’ Compensation is a small portion of a hospital’s overall reimbursement but, if done correctly, it can be one of its more profitable services,” said David Jones, who will become both President and CEO of EnableComp. “Our partnership with Primus Capital and the investment they are making in the business will benefit our clients and help us execute our planned growth strategies.”
Brentwood Capital Advisors acted as the exclusive financial advisor to EnableComp for this transaction.
About EnableComp LLC
With more than 17 years of workers’ compensation claims billing expertise, EnableComp is the trusted source of innovative work comp reimbursement solutions in the healthcare industry. Their robust proprietary technology platform has been populated with state fee schedules, clinical and jurisdictional conditions, and payer behavior data to provide clients with guaranteed cash acceleration and reimbursement accuracy for each claim. For more information, visit www.enablecomp.com.
About Primus Capital
Primus Capital is a private equity firm that invests in high-growth companies within the healthcare, software, and technology-enabled services industries. Through its history, Primus has invested in over 100 growth companies. Transaction types include buyouts, recapitalizations, and growth equity investments. For more information, visit www.primuscapital.com
About Brentwood Capital Advisors
Based in Franklin, Tennessee, Brentwood Capital Advisors is one of the South’s leading boutique investment banks that provides mergers and acquisitions and capital raising advice to privately-held, middle market healthcare, technology and tech-enabled and outsourced services companies. BCA has served as exclusive financial advisor in over 86 successfully closed transactions totaling approximately $5.3 billion in value in these sectors. Founded in 1999, the firm is partner-owned and has 18 investment banking professionals. For more information, please go to www.brentwoodcapital.com.