Xtend Healthcare Completes Investment
Brentwood Capital Advisors Serves as Exclusive Financial Advisor to Xtend Healthcare, LLC
Brentwood Capital Advisors LLC is pleased to announce that it served as the exclusive financial advisor to Xtend Healthcare, LLC (“Xtend”), a leading national provider of revenue cycle outsourcing solutions to the hospitals, in its recently completed investment led by WestView Capital Partners (“WestView”).
Headquartered in Hendersonville, Tn, Xtend’s technology- enabled, accounts receivable management services offer an attractive value proposition for hospitals looking to outsource all or portions of their revenue cycle operations as well as supplement in-house capabilities. The Company provides a comprehensive range of outsourced services designed to maximize revenue and cash collections while controlling business office expenses for a diversified group of hospitals and hospital systems. With a longstanding reputation for best- in –class service, Xtend’s management team, led by co-founders Tom O’Neill and Howard Kirshner, has been assisting healthcare providers in meeting the challenges of revenue cycle management for over three decades.
WestView led the equity investment, which included a co-investment by Brentwood Capital Partners, L.P. Debt financing was provided by Abacus Finance Group, LLC and Crescent Direct Lending, LLC.
We have established our market-leading position by focusing on the diverse needs of each and every client and consistently delivering exceptional results. We are excited to partner with WestView to further support our next stage of growth.” said Tom O’Neill, CEO of Xtend. “Brentwood Capital Advisors, our investment banking advisor in this transaction, played a critically important role in conducting a highly competitive process that produced outstanding results.”
“Xtend has achieved impressive growth and operating performance since its formation in 2009 and is perfectly positioned to capitalize on the growing opportunities within healthcare for outsourced revenue cycle management services” added Tom Wylly, Senior Partner of Brentwood Capital Advisors. “Xtend has been rapidly expanding its workforce to address growing demand for its services. This transaction assists the Company in continuing to capitalize on significant growth opportunities”
About Xtend Healthcare, LLC
Xtend Healthcare is a market leading provider of revenue cycle outsourcing solutions to the hospital market. The company’s services range from short-term, resource intensive solutions for temporary accounts receivable issues to long-term, full service, revenue cycle outsourcing. The Company’s client base encompasses both small, critical access hospitals as well as multi-hospital health systems. For more information, visit www.xtendhealthcare.net
About Brentwood Capital Advisors LLC
Brentwood Capital Advisors LLC, founded in 1999, is a privately held investment bank headquartered in Nashville, Tennessee, providing mergers & acquisitions and capital-raising advisory services to middle-market companies in healthcare, information technology, financial services and business services. BCA has served as exclusive financial advisor in over 50 successfully closed transactions in these sectors. For more information, visit www.brentwoodcapital.com.
About Westview Capital Partners
WestView Capital Partners, a Boston-based private equity firm focused exclusively on lower middle market companies, manages approximately $1 billion in capital in three funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in a wide range of industries including healthcare services, business and technology services, software, industrial/manufacturing, and consumer/retail. WestView targets companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $50 million. For more information, please visit www.wvcapital.com.
About Brentwood Capital Partners, L.P.
Formed in June 2009, Brentwood Capital Partners, L.P., is a $15 million private equity fund that makes later-stage co-investments with leading private equity firms in control and non-control investment banking transactions in which Brentwood Capital Advisors LLC serves as exclusive financial advisor. The fund’s limited partners are comprised of CEOs and business leaders from across the Southeast.