William Blair Advises Industry-Leading Physician Revenue Cycle Services Provider

Tuesday, September 17, 2013

William Blair & Company acted as exclusive financial advisor to Zotec Partners in conjunction with its signing of a definitive agreement to acquire 100% of the stock of Medical Management Professionals, Inc. (MMP) from CBIZ, Inc. (NYSE:CBZ) for approximately $200 million and the placement of $260 million of a unitranche credit facility. The transaction closed on August 30, 2013. This marks William Blair’s 82nd transaction in Healthcare IT in the last 10 years and brings the total amount of debt arranged for clients since 2010 to $5.5 billion.

Transaction Highlights:

  • Partnership creates one of the largest physician revenue cycle management services firms in the United States:  The acquisition will allow Zotec and MMP to provide clients comprehensive solutions and measurable results supported by exceptional service, leading revenue cycle technology, full-service practice management solutions, and greater depth of experienced professional resources.
  • Natural Fit with HCIT platform and debt capital markets capabilities: William Blair has a long-standing advisory relationship with Zotec dating back to 2008. Zotec was attracted to William Blair’s presence in healthcare IT, experience with corporate carve-outs, and ability to provide both buy-side advisory and debt capital placement services.
  • Execution excellence: William Blair was engaged to provide M&A advisory services to Zotec and raise committed debt financing to fund the acquisition of MMP.  The firm marketed the financing opportunity to lenders, coordinated the due diligence process, provided guidance regarding key deal elements, and assisted in the negotiation of the definitive purchase agreement and credit agreement.

About the Companies:

Zotec Partners, founded in 1998 by CEO Scott Law, is the industry leader in specialized medical billing and practice management services for the hospital-based specialty market. The company offers a comprehensive suite of medical billing and practice management tools and services designed to improve collections, enhance access to data, and streamline the medical billing process. Zotec Partners' proprietary processes and technology manage in excess of 48 million medical encounters across all 50 states.

Founded in 1993, Medical Management Professionals offers leading medical billing and practice management services to hospital-based physicians in the areas of radiology, anesthesiology, emergency medicine, and pathology. It currently serves over 3,000 physicians in 30 states. MMP's flexible solutions range from billing-only services to full-practice management services.

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