Private equity firm Thompson Street Capital Partners (TSCP) has said its automated healthcare payments company Revenue Management Solutions (RMS) has bought recognition solutions provider OrboGraph, a press release said.
Orbograph’s services help with payment negotiability and check fraud, and the company already does work in the healthcare field. By buying the company, the release noted that two automation-focused healthcare tech services have been combined.
The release noted that OrboGraph’s AI-based check imaging and fraud detection solution will be running independently under that company’s name. Barry Cohen, CEO of OrboGraph, will remain in that position after the companies combine.
Cohen said the two companies would “integrate the healthcare services of the businesses and to continue to lead and focus on the growth of our check business as a stand-alone division within RMS.”
Brian Kornmann, TSCP managing director said in the release that the company had thought it the right time to facilitate the merger.
“Having spent seven years following the growth of OrboGraph under Barry Cohen’s leadership, we believe the timing is right for bringing together these two great companies,” he said. “Both RMS and OrboGraph will remain active in exploring potential acquisition opportunities that provide leading technology-driven automation solutions in their respective markets.”
In other news pertaining to TSCP, they also recently announced that its company Made4net had bought Zethcon, a warehouse management software maker, as of June 10 this year.
Zethcon’s platform is made for the third-party logistics (3PL) market, and Made4net offers cloud-based supply chain execution and warehouse management system software.
“Combining Zethcon’s multi-decade track record of delivering premier 3PL WMS solutions with Made4net’s WMS product leadership across a broad diversity of end markets that extend beyond 3PL, creates a best-of-breed warehouse software company that serves an impressive global footprint of blue-chip 3PL and non-3PL customers, spanning virtually all industries,” TSCP said in the release.
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