Waud Capital Partners

Industry:	Healthcare Services – Healthcare revenue cycle management
Headquarters:	Chicago, Illinois
Date of Investment:	August 2008
Fund:	WCP Fund III, WCP Fund II
Date of Exit:	December 2016
Website:	adreima.com
Areas of Acquisition Focus Clinical auditing Self-pay follow-up Eligibility services Receivables management Medicaid Medicare Third-party payors Bad debt collections
Add-on Acquisitions Healthcare Resources – February 2015 HealthCPA – January 2015 M. Leco & Associates – March 2014 National Healthcare Review – January 2013 Patient Financial Services and Absolute Collection Service – July 2012 Accounts Receivable Management and Data Services – January 2012 Hospital Inpatient Services – September 2010
Related News 12/16 Waud Capital Partners Completes Sale of Adreima to nThrive 01/15 Adreima Acquires HealthCPA 03/14 Adreima Acquires Leco 08/13 Adreima and Optimum Outcomes Merge 01/13 Adreima Completes Acquisition of National Healthcare Review 07/12 Optimum Outcomes Expands National Presence with ACS Acquisition 05/12 Adreima Announces New Chief Executive Officer 05/12 Revenue Cycle Solutions Rebrands as Optimum Outcomes 01/12 Adreima Expands its Northeast U.S. Presence with Acquisition 07/11 Optimum Outcomes Expands into New Headquarters 05/11 Johnston Health Selects Adreima as Its Medicaid Advocate 05/11 Waud Capital Partners Acquires Optimum Outcomes 09/10 Adreima Expands to East Coast with Acquisition of HIS 02/10 Kenneth Kaufman Joins Advanced Reimbursement’s Board of Directors 07/09 Connie Perez Recognized in Impact Magazine 12/08 Advanced Reimbursement Completes Debt Financing 09/08 WCP Announces Investment in Healthcare Revenue Cycle Management

“With our expertise, resources and capacity, Adreima assists its clients through the challenges presented by the ever-increasing complexities of healthcare reimbursement and helps them to realize the full value of the services they deliver. Waud Capital has been very supportive in this strategy, and we look forward to continued partnership with the firm.”

Bob Wilhelm
Chief Executive Officer