ClearLight Partners LLC, a private equity firm based in Newport Beach, California, agreed to sell The Outsource Group to a subsidiary to HCA Holdings called Parallon Business Solutions.
The Outsource Group is a revenue management service provider focused on the healthcare industry. The company is based in St. Louis, Missouri. They serviced over 160 hospital clients and physicians within a total of 38 states. TOG is considered as among the top private healthcare revenue firms in the United States boasting revenues of $100 million or more.
ClearLight Partners, which has $600 million worth of assets to its name, did not disclose any information regarding the terms of the deal. The sale is expected to close before June 30. The company was advised by another equity firm, Cain Brothers & Co., during the course of the buyout.
"Going forward, the company is well positioned to continue its strong growth as part of Parallon," said ClearLight partner Patrick Haiz. "It has been a pleasure working with ClearLight in growing TOG."
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