Cymetrix Receives Private Equity Funding To Facilitate Continued Success In Healthcare Business Process Outsourcing
IRVINE, Calif., June 23 /PRNewswire/ -- Cymetrix(SM) an expert in delivering recurring, positive results for healthcare's revenue cycle, today announced a private equity investment from Riordan, Lewis & Haden (RLH). RLH, based in Los Angeles, invests equity capital in growing middle market enterprises, including those in the business services outsourcing sector. RLH's investment will support Cymetrix's continued growth and provide Cymetrix with the benefit of RLH's expertise in business strategy and corporate finance.
"Our firm has made a significant investment in Cymetrix," mentions Murray Rudin, Partner, Riordan, Lewis & Haden. "The company has all the key elements for success, including a strong management team, blue chip customers, a growing marketplace, and a service that brings great value to their clients."
Tremendous Growth Reflects Trend Towards Shared Risk for Revenue Cycle
Over the past four years, Cymetrix annual revenues have increased from two million to nearly thirty million dollars while the employee roster has grown to five hundred. "We have seen sustained, rapid expansion in our revenue cycle services business over the past twenty-four months," adds Michael Halberda, President and CEO for Cymetrix. The company's tremendous success indicates a growing trend for business process outsourcing firms to go "at risk" with their customers - a key differentiator for Cymetrix.
"Revenue Cycle Directors, Chief Financial Officers, Patient Financial Services and HIM are overburdened and understaffed," notes MaryAnne Pace, Senior Vice President of Business Development for Cymetrix. "By outsourcing some of the day-to-day functions to a trusted partner like Cymetrix, our customers gain back more time for strategic planning and proactive monitoring. The key is to use a business partner that will share financial risk and assure positive, measurable results." Cymetrix does just that.
Cymetrix helps CFOs, Revenue Cycle Directors, Patient Financial Services and HIM stay in alignment with national benchmarks for Healthcare performance. The company proactively identifies negative trends within the revenue cycle, quickly provides the right resources at minimal cost and delivers consistent, positive results. Finally, customers depend on Cymetrix to help them stay on top of healthcare's complex legal and regulatory issues. Capabilities include accounts receivables management, clinical coding, documentation integrity, entitlement eligibility, audit and recovery, process improvement consulting and interim management. For more information, visit the company's web site: www.cymetrix.com.
About Riordan, Lewis & Haden
Riordan, Lewis & Haden invests equity capital in growing middle market enterprises with headquarters in California. The firm's investments fund growth initiatives, enable recapitalizations, and facilitate ownership transitions. In addition to providing capital, RLH assists its portfolio comp any management teams as they navigate the opportunities and challenges of growth. RLH provides expertise, contacts, and perhaps most importantly, advice on important strategic issues. For more information, visit the firm's web site at: www.rlhinvestors.comCymetrix
CONTACT: Mary Anne Pace, Sr. VP of Cymetrix, +1-469-322-5000, firstname.lastname@example.org ; or Beth Friedman, RHIT, The Friedman MarketingGroup, +1-770-335-8570, or email@example.com ; or Murray Rudin, Partner,Riordan, Lewis & Haden, +1-949-475-9458, or firstname.lastname@example.org