Jan 9 2010
Origin
Healthcare Solutions (“Origin” or the “Company”), an industry leader
in healthcare revenue
cycle management services and business
and clinical intelligence systems, announced that Technology
Crossover Ventures (“TCV”) has made a significant growth equity
investment in the Company. TCV joins Beecken, Petty & O’Keefe & Company
(“BPOC”), an investor since 2006, and management as investors in Origin.
“Origin’s software and services simplify complex business and clinical
processes for physician offices. This technology innovation has
tremendous growth potential in the office-based physician market, a
sector we have actively pursued for some time”
Focused on both office and hospital-based physicians across all medical
specialties, Origin supports over 40,000 medical providers nationwide
with solutions that offer faster payment and increased collections for
medical services rendered, as well as superior business and clinical
analytics. Based in Hartford, CT, Origin has grown to 600 employees and
over a 1,000 client organizations.
"TCV's extensive knowledge of the healthcare market and successful track
record building companies in the information technology and services
markets will help us to continue to aggressively invest in maintaining
our technology leadership position while expanding our sales and
marketing presence," said Jeff Kvam, CEO of Origin. "We look forward to
broadening our reach within the physician market and continuing to
enhance the revenue collection experience."
As part of the transaction, John Drew, TCV General Partner, will join
Origin's Board of Directors. Ken O’Keefe and Grant Patrick from BPOC and
Mr. Kvam will remain on the Origin Board.
"Origin’s software and services simplify complex business and clinical
processes for physician offices. This technology innovation has
tremendous growth potential in the office-based physician market, a
sector we have actively pursued for some time,” said John Drew of TCV.
"We are excited to partner with BPOC, Jeff, and the rest of the Origin
team to further accelerate Origin’s expansion."
“We are thrilled to have TCV as an investor in Origin and look forward
to working with TCV and management to fully realize Origin’s potential
in this large market,” said Ken O’Keefe of BPOC. “TCV is an ideal
partner for Origin at this stage of its development.”
http://www.originhs.com/