WindRose Health Investors sells portfolio consultancy
New York-based private equity firm WindRose Health Investors has announced the sale of Trust Healthcare Consulting Services (TrustHCS). WindRose had been a stakeholder in TrustHCS since its majority investment in 2015.
The sale was made to a healthcare joint venture founded by an affiliate of The Carlyle Group and Cannae Holdings. Full terms of the transaction remain undisclosed.
"We are proud to have partnered with the TrustHCS management team as they expanded their capabilities over the last four years," Alex Buzik, a partner at WindRose, said. "TrustHCS' reputation for high quality solutions made it an ideal investment platform as we pursued our initiative in revenue cycle management, and we look forward to seeing TrustHCS continue to thrive under its new ownership."
TrustHCS provides staffing and advisory services for coding, clinical documentation improvement, denial management, and coding education solutions aimed at improving the financial strength of healthcare organizations by acclerating revenue cycles, improving revenue integrity, and reducing operating costs. The firm employs more than 500 people and is headquartered in Springfield, Missouri.
TrustHCS also organizes the annual Trust Builder Awards, which spotlight healthcare industry professionals who have built trust among their peers. The awards recognize excellence in transparency, encouragement, collaboration, honesty, engagement, and commitment. Winners are announced an April and May, after which TrustHCS donates $2,500 to a charity of each winners’ choice.
"WindRose was a dedicated partner, and we are grateful for their commitment to improving and growing our business," Torrey Barnhouse, CEO of TrustHCS, said. "With this new partnership we will have even greater resources and infrastructure to continue to provide significant value and unmatched service to our clients."
WindRose mainly focuses on investing in companies that operate within the healthcare industry. It currently manages more than $1 billion in investments and is currently investing out of its fifth fund.
