Technology Partners, LLC, doing business as ImagineSoftware, a leading provider of medical billing automation software and revenue cycle management applications, today announced it received a strategic growth investment from Marlin Equity Partners. The partnership with Marlin will focus on further accelerating Imagine’s growth trajectory and expanding the company’s talent and technology capabilities to continue to efficiently serve the needs of the marketplace and its customers. Post-transaction, Imagine’s current investment partner, Mountaingate Capital is exiting the company.
With tremendous expansion over the past five years, Imagine has become a billing software of choice for innovative hospital-based specialties. It has accomplished this growth through a servant leadership mindset, creating cutting-edge technology and committing wholeheartedly to helping clients achieve their goals. ImagineBillingTM, the company’s flagship product, is a true end-to-end software platform built to automate every aspect of the revenue cycle management (RCM) process. With this new investment, ImagineSoftware will continue to expand capabilities in patient engagement, artificial intelligence, reporting/analytics, and contract variance.
“We are proud of the leading platform and dynamic, entrepreneurial culture we have built at Imagine and are eager to capture the significant market opportunity ahead of us,” said Sam Khashman, Founder and CEO of Imagine. “We are excited to partner with Marlin for the next phase of our evolution and growth, and with their support, remain focused on preserving our recognition as an industry leader in developing software capabilities that streamline the medical billing process for our clients and their patients.”
“The ImagineSoftware team has built a strong reputation as a revenue cycle management platform of choice for both small and large hospital-based providers,” said Alex Beregovsky, a managing director at Marlin. “ImagineSoftware brings the right blend of innovative technology and subject-matter expertise to simplify the ecosystem and drive efficiency for providers and billing companies. Our partnership will support investments in key areas, while enabling the company to maintain its commitment to innovation and client success.”
The current management team will remain in place, and Mr. Khashman will continue to lead the company and serve as a board director. Financial details of the transaction have not been disclosed. TripleTree, LLC acted as exclusive financial advisor to Marlin. Robert W. Baird & Co. served as exclusive financial advisor to Imagine.
About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with over $7.7 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 190 acquisitions. The firm is headquartered in Los Angeles, California, with an additional office in London. For more information, please visit www.marlinequity.com.
About Mountaingate Capital
Mountaingate Capital is a private equity firm based in Denver that specializes in building and empowering companies with strong growth potential and engaged leadership teams. Mountaingate is one of the only firms globally honored by Inc. Magazine for three consecutive years as the most founder-friendly private equity firms. Mountaingate’s focus on organic growth coupled with its proven customer-centric buy-and-build approach and shared equity ownership with management creates more value for the end customer, while forging stronger, more collaborative, and more successful partnerships with management teams. Mountaingate targets investments in new platform companies with $5 million to $25 million of EBITDA, as well as add-on acquisitions of any size. For more information on Mountaingate, please visit www.mountaingate.com.
About ImagineSoftwareTM
Technology Partners, LLC, d/b/a ImagineSoftwareTM, is a leading provider of medical billing automation software and revenue cycle management applications. Offering powerful technology solutions for medical billing offices, practices and hospitals for over 20 years, ImagineSoftware’s solutions improve financial efficiency, build provider reputation and ultimately improve the patient experience. For more information, visit www.imagineteam.com.
