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Private Equity Firm Expands RCM Investment By Buying Receivables Solutions Specialist

Kriya Capital, a Dallas-based private equity firm that specializes in the healthcare and business-process outsourcing industries, has announced it has acquired Receivables Solutions Specialist Inc., a revenue cycle management firm.

Terms of the deal were not disclosed.

Receivables Solutions Specialist Inc., based in Natchez, Miss., specializes in occupational healthcare billing and recovery, workers’ compensation denials and interventions, and urgent care patient receivables, according to its website.

Among the companies that Kriya Capital has invested in are Credence Resource Management, LLC, an accounts receivable management company specializing in the healthcare, telecommunications, and retail markets, and Innoval Global Solutions, a revenue cycle management company.

Bruce Brice, who founded RSSI in 2002, will stay with the company to “spearhead the marketing of occupational health care solutions,” according to a press release announcing the acquisition.

The assets of RSSI are being acquired by Credence, Kriya announced.

“Bruce and his team bring domain expertise that immediately enhances the scope of services we already deliver to a diverse community of healthcare providers and professionals,” said Nafeesa Khandwala, a partner at Kriya Capital, in a statement. “The RSSI acquisition adds bandwidth and new capabilities to our CRM and Innoval brands and will benefit any medical enterprise facing occupational claim challenges.”

Karan Negi, Kriya Capital’s managing partner, said the firm will be “aggressive” in pursuing assets in 2019 to expand its “scale, revenue and visibility in the healthcare sector.”

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