Medical Claims Management Provider Consolidated Services Group (CSG) Announces Strategic Investment by Excellere Partners

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The partnership will enable CSG to build on its position as a best-in-class medical claims management provider in the Northeast while significantly accelerating its national expansion.

CSG "NEXT LEVEL"

Consolidated Services Group

“This is an exciting time for CSG. Our ability to attract this highly-regarded investment partner strongly affirms that our business model and approach can successfully compete on a national scale.

Medical claims management innovator Consolidated Services Group (CSG) today announced that Denver-based private equity firm, Excellere Partners, has made a significant strategic investment in the company.

Excellere Partners is a private equity investment firm that focuses on partnering with entrepreneurs and management teams with the goal of building enduring value in industries including business services and healthcare services and products, among others.

CSG also announced that founder and CEO Michael Morrone will now serve as a chairman of the board, and the company’s chief operating officer, Craig Goldstein, has been promoted to president.

The partnership will enable CSG to build on its position as a best-in-class medical claims management provider in the Northeast while significantly accelerating its national expansion. The company plans to apply the expertise and resources of Excellere Partners toward further developing its infrastructure and supporting the implementation and expansion of its products and services.

“This is an exciting time for CSG. Our ability to attract this highly-regarded investment partner strongly affirms that our business model and approach can successfully compete on a national scale,” said Morrone. “Excellere Partners’ deep industry knowledge, proprietary value-creation tools and proven processes will empower CSG to take our products, innovations and service to the next level.”

As CSG joins forces with Excellere Partners, the company is launching a “NEXT LEVEL” campaign to communicate its vision to employees, clients and industry colleagues.

“Although we are already setting new standards in medical claims management, CSG’s accelerated growth trajectory challenges our team to achieve the “NEXT LEVEL” of diligence, ingenuity and professionalism. While I have worked tirelessly to position CSG for success, Craig Goldstein’s track record makes him the obvious choice to lead us into the future. For the past 25 years, he has been at the forefront of many of our organization’s strategic and operational decisions, forged many of our key alliances, and earned recognition as one of our industry’s foremost thought leaders,” said Morrone.

A pioneer in the medical claims management industry for the past 35 years, Morrone has been a driving force behind CSG’s product innovation and strategic development. Goldstein has worked closely with Morrone throughout his 25-year tenure at CSG, forging pivotal partnerships, leading strategic initiatives and spearheading operational enhancements making him known as an industry innovator.

“CSG’s medical, technical and support resources play a critical role in delivering differentiators in claims management solutions that consistently exceed stakeholder, regulatory and business partner demands,” said Goldstein. “Supported by Excellere Partners, we look forward to advancing the industry with fresh ideas and delivering unmatched value to insurance carriers nationwide as they make informed choices for their medical claims management needs.”

As a medical claims management innovator, CSG delivers a proven mix of technology and medical expertise that enables its clients to confidently navigate the medical claims management process—from initial filing through close. CSG’s offerings include seamless collaboration through its proprietary medlogix® technology; recommendations from highly qualified medical professionals; and access to a national network of premier health care providers.

“Controlling medical claims costs while improving outcomes represents a significant challenge to automobile insurance carriers across the country,” said Matt Hicks, partner at Excellere Partners. “We seek to partner with organizations that offer innovative ways to address these challenges and CSG is a strong fit for that criteria. Given CSG’s exceptional customer value position, its impressive management team, and the valuable benefits its technology and services deliver to insurance providers, injured parties and all participants in the claims process, we are thrilled to support this team and help achieve its vision for growth.”

“At CSG, the desire to improve outcomes drives everything we do. We care deeply about our clients, their policyholders and all the concerned parties across the medical claims management process, and we are committed to maintaining the most experienced, credentialed and responsive claims management team,” said Goldstein. “As we embrace this new partnership, we will continue to engage new markets, acquire new skill sets, and maintain the highest standards of innovation, performance, service and integrity.”

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About Consolidated Services Group (CSG)
Consolidated Services Group (CSG) is a technology-driven, clinically-based medical claims management provider specializing in managed care, utilization review and bill review services. CSG offers a complete, integrated solution, including seamless collaboration through our proprietary medlogix® technology; recommendations from highly qualified medical professionals; and access to a nationwide network of premier health care providers. CSG’s powerful mix of medical expertise, proven processes and innovative technology delivers a more efficient, disciplined insurance claims process. The result is lower expenses and increased productivity for the auto insurance and workers’ compensation insurance carriers, third party administrators (TPAs) and government entities we serve. Visit http://www.csg-inc.net to learn more.

About Excellere Partners
Excellere Partners is a Denver-based private equity firm with $1.36 billion of capital across three funds, and specializes in partnering with entrepreneurs and management teams. The Firm employs a proven research-driven, top down investment strategy, and supports its entrepreneurs and management teams with a proprietary value creation process designed to enhance corporate and operational infrastructure for scalability and growth. Excellere’s investments are focused on differentiated and growth oriented companies positioned to benefit from industry consolidation and favorable macro-economic and demographic trends. The Firm’s targeted industry sectors include: healthcare services and products and business services. For more information about Excellere, please visit http//http://www.excellerepartners.com.

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Denise Bauwens
Consolidated Services Group
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