ALISO VIEJO, Calif. – Mnet Health, the premier provider of patient billing solutions for surgical hospitals and ambulatory surgical centers, announced today a strategic growth investment from Memphis-based SSM Partners, a growth equity firm with extensive experience investing in ever-expanding revenue cycle management and healthcare information technology companies.
This investment by SSM will provide Mnet Health with resources to accelerate continued product development and market expansion on its mission to ensure every patient has a helpful, transparent, and easy-to-navigate financial experience in healthcare. In conjunction with the strategic growth investment, Jim Lackey, former CEO of other successful revenue cycle companies and SSM investments Passport Health Communications and Complete Holdings Group/Enablecomp, will join Mnet as Executive Chairman to support the management team as an adviser.
Mnet Health is widely recognized as the national leader in patient revenue collections to the surgery industry. From its founding in 2005, Mnet has partnered with over 700 surgical facilities to help millions of patients navigate the often-challenging world of healthcare payments. Mnet’s trademark concierge service, characterized by a dedication to customer service and innovative payment technology, creates a seamless experience for patients and surgery centers alike, increasing self-pay collections while creating a better financial experience for patients.
“We are thrilled to partner with SSM to continue the strong growth we have experienced and expand our mission to help more patients pay,” said David Hamilton, CEO of Mnet Health. “SSM Partners and Jim Lackey combine their years of experience in revenue cycle and healthcare with a focus on building great teams. We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare. Mnet is eager to capitalize on this level of experience and cultural alignment to build our team and expand our unparalleled offering to provide increased collections for providers and satisfaction to patients.”
“This is a company that is first and foremost about people,” said Jim Lackey. “I am looking forward to supporting this team as they continue to grow and serve the patients and the providers”
“Mnet stands out for its patient-centered approach to revenue cycle management,” said Casey West, Managing Partner at SSM Partners. “Our hats are off to David Hamilton and team for the fantastic business they’ve built. We could not be more excited to partner with David and the rest of the Mnet team in their mission to help more patients pay.”
ABOUT MNET
We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare. Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 700 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.
Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.
ABOUT SSM PARTNERS
SSM invests in rapidly growing companies within the fields of software, services, and healthcare. The growth equity firm has partnered with talented entrepreneurs for more than 20 years. Starting with a relationship built on trust, SSM makes strategic growth investments and offers its partners a thorough understanding of the growth company lifecycle and a collaborative approach to building great businesses.
To learn more about SSM Partners, please visit our website at ssmpartners.com. In addition to a great team such as that of Mnet, the typical SSM investment has the following characteristics:
- Equity capital need of $8-30 million
- Revenue of $8-$30 million with 20%+ growth rate
- Approaching profitability or profitable
- Software & technology, healthcare, and internet & consumer companies
- Growth financings and recapitalizations