Bertram Capital Invests in Physicians Management Group
Bay
Area private equity firm sees bright future providing revenue
cycle management services to surgery centers and specialty
physician practices
LOS ANGELES, Calif., May 8, 2007 -- Bertram
Capital, a private equity firm in Palo Alto, California, has
taken a majority interest in PMG Partners LLC (“PMG”),
a leading provider of revenue cycle management services to
the healthcare industry. Based in Los Angeles, PMG has developed
unique expertise at coding, billing, and collecting on complex
healthcare claims for surgeons, ambulatory surgery centers,
hospitals, and other specialty physician practices. Today,
the company provides services to nearly 400 different healthcare
providers and facilities across the country.
“Simply put, it pays to work with an expert. And no one
has the expertise of PMG,” said Dr. Ken Drazan, Managing
Director of Bertram Capital and a former surgeon himself. “There
are 5,000 outpatient surgery centers in the United States,
and most still perform their revenue cycle functions in-house
with unsophisticated staff whose incentives aren’t always
aligned with the interests of the practice. Throughout the
industry, the need for a trusted financial partner is clear.
We’re excited to help PMG realize its full potential
by becoming part of that solution.”
“After 15 years at the helm of PMG, I am excited to bring
aboard Bertram Capital as a partner in the growth of this company,” said
Dr. Aaron Sones, CEO of PMG. “They understand healthcare,
the reimbursement climate, and the challenges faced by physicians.
Their principals bring operational and strategic expertise
and, equally important to me, a commitment to PMG’s existing
customers, employees, and ideals.”
Bertram Capital was
founded in 2006 to invest in middle-market buyout transactions
and provide growth equity to established platforms in the technology,
manufacturing, healthcare, and business service industries.
PMG was represented in this transaction
by Avondale Partners, based in Nashville, Tennessee.
Media Contacts:
Ryan Craig
Bertram Capital
(650) 543-9300
rcraig@bertramcapital.com
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