Knack Global has completed the acquisition of NY and FL based The Faculty Practice Service, Inc.
CORAL SPRINGS, Fla., Nov. 2, 2023 /PRNewswire-PRWeb/ -- Knack Global ("Knack"), a Florida-based industry-leading provider of end-to-end revenue cycle management ("RCM") solutions, announces its acquisition of The Faculty Practice Service, Inc. ("FPS" or the "Company"), a provider of medical billing and practice management services with offices in New York and Florida. Founded in 1965, FPS serves physicians, hospitals, and other healthcare facilities in a variety of specializations, among them endocrinology, nephrology, urology, and cardiology.
"We are delighted to welcome FPS into the Knack family. This partnership will further extend our geographic footprint, range of RCM capabilities offered, and medical specialties served", said Rajiv Sharma, Knack CEO. "This is our eighth acquisition since Knack's founding in 2007, and we remain dedicated to investing resources alongside our investment partner, LKCM Headwater, to both organically and inorganically expand our portfolio of high-quality RCM solutions to our existing and prospective clients."
Todd Bochenski, previously a Principal and Vice President of the Company, has been appointed FPS' new president. He has been with the Company for over 18 years and has extraordinary knowledge and experience in the RCM arena. Todd said, "We are excited to be a part of Knack and are looking forward to leveraging Knack's resources in our mission to help clients increase efficiency and control costs. Rajiv and the Knack team share our dedication to high-quality service delivery and customer satisfaction, and I am confident that Knack and FPS together will yield even more outstanding results for our clients and further enhance patient-provider relationships."
CEO ally, Inc., a tech-focused, mid-market M&A advisory firm, acted as exclusive buy-side advisor to Knack in the transaction.
About Knack Global, LLC:
Knack Global empowers leading healthcare practitioners by providing a comprehensive suite of Revenue Cycle solutions to increase efficiencies, accelerate payments, and gain operational insights so clients can focus on their core competency of providing patient care. In order to bolster the effectiveness of its clients' revenue cycle process, Knack's portfolio of services spans the entire RCM value chain from Pre-Claim activities to Accounts Resolutions. Enabled by proprietary technology and a global team of 3,500 dedicated healthcare experts, Knack serves healthcare providers across a broad range of categories and specialties including physician groups, durable medical equipment suppliers, surgical and ambulatory care centers and hospitals, and health systems.
To learn more, visit http://www.knackglobal.com
About The Faculty Practice Service, Inc.
The Faculty Practice Service, Inc. ("FPS") is a provider of medical billing and practice management services. FPS is focused on helping private practice physicians, healthcare facilities and hospitals increase their efficiency and control their costs through its constant attention to detail, compliance, follow up, and ever-changing insurance regulations. It was established in 1965 and is based out of Armonk, New York.
To learn more, visit https://www.fpsmedicalbilling.com
About CEO ally, Inc.
CEO ally, Inc. ("CEO ally") is a boutique M&A advisory firm headquartered in Pittsburgh, Pennsylvania which focuses on small to middle-market transactions in the fields of software, IT services, engineering design services and BPO. Founded in 2006, CEO ally has completed more than 50 transactions that span the United States, Canada, Western Europe, Latin America and India.
To learn more, visit http://www.ceoally.com
SOURCE Knack Global