BRENTWOOD, Tenn.--(BUSINESS WIRE)--LLR Partners today announced an investment in Kemberton Healthcare Services, LLC, a leading provider of technology-enabled revenue cycle management (RCM) services to hospitals for complex claims. The capital will be used to support company growth, expand sales and marketing, further enhance the company’s technology platform and fund strategic acquisitions.
Kemberton Healthcare specializes in the management and collection of workers’ compensation and motor vehicle accident claims and the resolution of insurance denials for hospitals and physician practice groups. Led by a team of experienced professionals, Kemberton accelerates collection times and maximizes reimbursement, resulting in millions of dollars of incremental cash payments for clients. Since its founding in 2008, Kemberton Healthcare has grown to serve over 150 hospitals in over 25 states.
In connection with LLR’s investment, George Abatjoglou, former President of Provider Solutions at CIOX Health, will become CEO of Kemberton Healthcare. George brings more than 20 years of experience leading healthcare technology and services organizations including IOD Incorporated (prior LLR investment), eWebHealth, ChartOne, Xchange Inc. and McKesson Health Solutions. Brandon Rife, Co-Founder and CEO of Kemberton Healthcare, will continue to play a critical role in driving the company’s growth as President and a member of the Board of Directors.
“Brandon Rife, Cody Clayton, Chris Roark and their impressive management team have built a high growth business by leveraging technology and efficient claims management processes to deliver market-leading performance. Kemberton advocates for both patients and providers and consistently delivers exceptional service to its clients,” said Abatjoglou. “I am excited to join the team and to partner with LLR again. We have a strong opportunity ahead to expand our client relationships as hospitals look for more efficient ways to resolve their complex claims and maximize their revenue and collections.”
“By offering specialized and technology-driven revenue cycle management solutions, Kemberton Healthcare is helping hospitals drive efficiencies and reduce strain on internal resources,” said Zack Sigal, Vice President at LLR Partners. “We developed a great relationship with George Abatjoglou while scaling IOD Incorporated together and are excited to partner with George, Brandon and the Kemberton team to help accelerate the company’s growth opportunities.”
"Cody, Chris and I take great pride in our employees and the strong customer relationships we’ve built over the years, and we are excited about this next phase in Kemberton’s growth," said Rife. "We are excited to partner with industry leaders like George and LLR to build on what we have today, while continuing to deliver on our promise to our clients and employees."
Kemberton Healthcare was advised in this transaction by Silvermark Partners.
About LLR Partners
LLR Partners is a lower middle market private equity firm committed to creating long-term value by growing our portfolio companies. We invest in a targeted set of industries, with a focus on technology and services businesses. Founded in 1999 and with more than $2 billion raised across four funds, LLR is a flexible provider of capital for growth, recapitalizations and buyouts. For more information about LLR, visit our website at www.llrpartners.com.
Learn how LLR, our portfolio and network collaborate to deliver best practices for growth: https://www.llrpartners.com/grow/.