Office Ally recently announced its acquisition by Francisco Partners, a worldwide investment company specializing in technology business partnerships, according to a Business Wire press release.
This investment will establish a new partner to help Office Ally capitalize on its recent growth while driving product innovation and expansion, Business Wire reported.
“Office Ally’s position at the intersection of payers, providers, and patients provides unique insights into addressing the complexities and administrative burdens in the healthcare system,” Justin Chen, principal at Francisco Partners said in the release, “The Office Ally platform delivers significant ROI (Return on Investment) to their customers, and our investment will support the company’s continued growth, customer focus, and product development including enhanced revenue cycle offerings.”
Office Ally's extensive variety of mission-critical services has helped businesses increase operational efficiency and streamline administrative operations since 2000. The company handles about 25 million claims each month for more than 720,000 providers and 4,000 payers in the United States.
“We are thrilled to welcome Chris Hart back to the Francisco Partners portfolio as CEO of Office Ally,” Ezra Perlman, co-president of Francisco Partners said in the release, “Chris is an outstanding operator with a successful track record in healthcare technology and revenue cycle management. We look forward to his leadership and partnership with the impressive Office Ally team, whom we are excited to support with this investment.”
Francisco Partners has invested in over 300 technology companies, establishing itself as one of the industry's most prominent and long-standing investors, according to Business Wire. In addition to having substantial expertise in the healthcare technology sector, the firm is also one of the most active private equity investors in healthcare information technology and software companies.
With over $30 billion in assets under management, the firm invests in areas where its experience and operational abilities can help businesses achieve their potential.