Brightree buys biller
DULUTH, Ga.--Brightree in December made good on promises that it would use “a significant investment” from a private equity firm to make acquisitions.
The software vendor announced Dec. 18 that it had acquired C&S Billing Center, an Antioch, Ill.-based billing service with about 40 employees. Terms of the deal were not disclosed.
“We’re on track for more acquisitions, but this was a deal that was opportune for us to pull off in a short space of time, so we brought them onboard,” said Dave Cormack, president and CEO of Brightree. “We plan to make further investments in the business.”
In July 2008, Brightree received funding from Battery Ventures, a Boston-based firm with $3 billion under management.
The deal combines Brightree’s business management solution with C&S’s billing service solution, creating a bundled offering. The result: Brightree customers can now outsource billing and collections to C&S without worrying about “disparate systems,” Cormack said.
“In the vast majority of cases, providers have to fax orders to billing services and billing services then have to re-key that info into their systems,” he said. “That leaves room for errors related to data duplication.”
Brightree believes an increasing number of providers will seek to outsource billing and collections, particularly as the reimbursement climate for Medicare becomes more complicated.
C&S is no stranger to Brightree. The billing service’s 20 or so clients use Brightree exclusively.