Bowstring advises Receivable Solutions on its growth recapitalization investment from WestView Capital Partners

October 10, 2019 | Atlanta, GA

Bowstring Advisors (“Bowstring”), a division of Citizens Capital Markets, served as the exclusive financial advisor to Receivable Solutions (“RSi” or the “Company”), a national provider of revenue cycle management (“RCM”) services to hospitals and health systems, on its growth recapitalization investment from WestView Capital Partners (“WestView”), a Boston-based private equity firm focused on middle-market growth companies.

RSi’s receivable management and revenue cycle outsourcing services offer an attractive value proposition for hospitals looking to outsource all or portions of their revenue cycle operations while maintaining best in class patient experience. The Company provides a comprehensive range of outsourced services across the RCM continuum, from day one patient receivables to insurance follow-up, that are designed to accelerate cash flow, improve operating efficiencies and enhance profitability.

Paul Reardon and Donnie DuRant, co-founders of RSi, remarked, “We selected Bowstring Advisors because of their specific RCM knowledge, a very comprehensive process that we would follow and their confidence in being able to provide us with a very favorable outcome. The Bowstring team developed a personal relationship with us and it helped navigate the decision-making and planning process even when there were tough decisions to be made. It was a pleasure working with and forming lifelong relationships with the Bowstring team.”

“RSi’s broad suite of RCM services and best-in-class customer and patient experience have led to an impressive growth rate over the past five years,” added Jason Wallace, Managing Director at Bowstring. “Paul, Donnie and CEO Brent Rollins have worked together to build an incredible company and were looking for a partner that could add value beyond just as a capital provider. Given their experience with entrepreneurial RCM businesses, we believe WestView is the perfect fit for RSi and we look forward to watching as the Company embarks on the next phase of growth.”

We selected Bowstring Advisors because of their specific RCM knowledge, a very comprehensive process that we would follow and their confidence in being able to provide us with a very favorable outcome. The Bowstring team developed a personal relationship with us and it helped navigate the decision-making and planning process even when there were tough decisions to be made. It was a pleasure working with and forming lifelong relationships with the Bowstring team.

Paul Reardon and Donnie DuRant
Co-founders
Receivable Solutions