MINNEAPOLIS--(BUSINESS WIRE)--Yukon Partners ("Yukon"), a provider of mezzanine capital for middle market private equity transactions, is pleased to announce its mezzanine investment in Practice Insight (the “Company”).
Practice Insight, headquartered in Houston, Texas, provides revenue cycle management and electronic data interchange solutions that help healthcare providers manage the reimbursement cycle. The Company's suite of products enables healthcare practitioners to digitize, automate, and manage every stage of the revenue cycle workflow, reducing bad debt, shortening the collection cycle, and minimizing the administrative support required to manage the reimbursement process. Practice Insight serves over 56,000 physicians across 150+ specialties nationwide through a network of reseller relationships.
"The Practice Insight team is excited about our new partnership with Yukon, and we look forward to their support as the Company enters its next stage of growth," said Houston Johnson, CEO of Practice Insight. “We have known Mike Furey for many years and appreciate his knowledge and understanding of our business and industry.”
Michael Furey, Partner of Yukon added, “In an environment of increased reimbursement pressure and administrative burden, healthcare providers need technology solutions to help them accurately and cost-effectively manage their revenue cycle. We have been impressed by Practice Insight’s ability to consistently develop proprietary solutions that address the evolving needs of physician practices."
Dorsey & Whitney, LLP served as legal counsel to Yukon.
About Practice Insight
Practice Insight, based in Houston, Texas, was founded in 2003 by a group of executives who have been providing services to the healthcare industry since 1977. The core of Practice Insight's product is the EDIinsight application which manages all stages of the claim workflow with functionality that includes: patient eligibility verification, claims scrubbing, real-time claims submission and tracking, ERA management, patient statements, and secondary claims processing. Practice Insight has partnered with many of the best-known healthcare IT vendors and resellers to distribute their solutions to over 56,000 physicians nationwide. For more information, please visit www.practiceinsight.net.
About Yukon Partners
Yukon Partners is an independent and unaffiliated junior capital provider, primarily serving middle market private equity sponsor led business transactions in the U.S. and Canada. The transactions in which Yukon invests include buyouts, growth and platform strategies, recapitalizations, mergers/acquisitions, and public-to-private buyouts. Yukon invests $10 to $50 million per transaction and manages approximately $1.2 billion across three funds. Yukon Partners is based in Minneapolis, Minnesota. For more information, please visit www.yukonpartners.com.