St. Louis, MO (December 4, 2007) – Productivity Network Innovations Healthcare (PNIH) in Houma, Louisiana, has been acquired by The Outsource Group, Michael DiMarco, CEO of The Outsource Group announced today. The acquisition of PNIH is part of The Outsource Group’s strategic plan to grow through acquiring “best-in-class” service providers to augment their service offerings and geographic coverage in the healthcare receivables industry. Specifically, PNIH, provides insurance follow up and business office outsourcing to leading healthcare providers across the country.
“The acquisition of PNIH adds to our competency in insurance follow up; extends our service lines to the PNIH client base; and expands our overall capacity by adding the Houma call center,” says DiMarco.
The Outsource Group has experienced rapid growth, with seven acquisitions in the past three years and a growing network of offices and call centers located in New York, Massachusetts, Texas, Missouri, and now, Louisiana. More importantly, the owners of the acquired companies join The Outsource Group’s leadership team as shareholders and operators bringing expertise and years of experience to the Company and clients alike.
“The management team from PNIH brings a very specific expertise in dealing with payers,” adds DiMarco. “Tom Westerkamp, PNIH’s founder, along with the other principal’s Pete Middleton and Hardy Blick, will round out our competence in insurance follow up and will add business office outsourcing to our existing suite of services.”
The new addition of PNIH comes on the heels of The Outsource Group’s acquisition in October of Genesis Consultants of New York, another leading provider of insurance collections and Medicaid eligibility services. “Unlike some companies who are interested primarily in client access through acquisition, we look for experienced management partners who can help us grow organically as well,” says DiMarco. “In addition, this type of growth enables us to offer “best-in-class” subspecialties as well as local access across the U.S.”
In order to fuel their continued expansion, The Outsource Group maintains a strong relationship with its capital partner, ClearLight Partners, LLC, a Newport, California based private equity firm with $600 million under management. ClearLight looks for long-term relationships, investing in mid-cap companies with proven management success and growth potential.