Harris Williams & Co. Advises Practice Insight, LLC on its Sale to a Strategic Buyer

October 12, 2017

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces the sale of Practice Insight, LLC (Practice Insight), a provider of integrated electronic data interchange and revenue cycle management workflow solutions for healthcare providers, to an undisclosed strategic buyer. Harris Williams & Co. served as the exclusive financial advisor to Practice Insight’s management team and Halyard Capital, a minority investor. The transaction was led by Sam Hendler and Dan Linsalata of Harris Williams & Co.’s Technology, Media & Telecom (TMT) Group.

“We are honored to have represented Practice Insight and its investors in this transaction.  Co-founder Houston Johnson and his team have achieved great success and positioned the business for ongoing leadership in the revenue cycle management sector,” said Sam Hendler, a managing director at Harris Williams & Co.  “We are pleased to have delivered a great outcome for the company and its shareholders.”

“Practice Insight has developed a market-leading revenue cycle workflow software solution coupled with extensive claims clearinghouse capabilities, which delivered through its unique wholesale model, enable it to efficiently serve a large variety of the healthcare provider universe,” said Dan Linsalata, a vice president at Harris Williams & Co. 

Practice Insight, founded in 2003, provides fast, secure, robust, integrated electronic data interchange (EDI) solutions through its industry-leading proprietary software, EDIinsight®. More than 60,000 providers in all 50 states rely on Practice Insight’s technology, which does more than just connect them to thousands of commercial and government payers to submit claims. The company’s software enables users to track every claim in real-time, customize claim edits, create secondary claims, manage their claim workflow, verify patient eligibility, process electronic and printed patient statements, post patient payments through the Practice Insight portal, recover accounts receivable, monitor user productivity, analyze all EDI transactions, manage their customer support and more.

Halyard Capital is a lower-middle market private equity firm focused on creating value within companies in high growth sectors. The firm focuses on sectors including tech-enabled business and information services, digital marketing/data analytics, IT cyber security and IT infrastructure and communications. Halyard Capital specializes in growth equity, leveraged buyouts and structured equity investments.

Harris Williams & Co. (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s TMT Group advises leading private and public companies, entrepreneurs, private equity firms and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the Software/SaaS and Internet & Digital Media segments, with particular emphasis on specific verticals including education, energy technology, fintech, public sector and supply chain/logistics and has a dedicated healthcare technology (HCIT) practice. Across verticals it also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 7078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.