Back on firm footing after last year's bankruptcy filing and sale, MedAvant Healthcare Solutions has announced a name change.
Effective March 18, the company will be known as Capario. Officials said the new name was chosen to better reflect the company’s focus on revenue cycle management solutions.
“Our motivation behind the re-branding is to better show who we are today - a company with a national scope that provides innovative revenue cycle management solutions enabling healthcare organizations to optimize business performance in today’s challenging healthcare environment,” said Andrew Lawson, the company’s president, in a press release. “With a strong financial foundation, Capario will strive to identify new and creative ways to serve the needs of the market while positioning the company for future expansion and optimizing customer loyalty through top-notch customer service. Our new company name and position embody our ability to evolve with the healthcare industry and address its most urgent and ever-changing needs.”
Founded in 1989 in Atlanta, MedAvant filed for Chapter 11 bankruptcy protection on July 23, 2008 in order to address debt burdens through a sale and restructuring process. In September 2008, the company was acquired by Marlin Equity Partners, a Los Angeles-based institutional private investment firm, for roughly $24 million.
Also at that time, the company hired Lawson, a former Misys executive, and established a new management team.
“We have been pleased with Capario’s continued momentum in the market with numerous new contracts and services, including the recent acquisition of HDM’s Medicare Crossover business,” said Jim Brady, an operating partner with Marlin who was named MedAvant’s executive chairman in February. “We look forward to the company’s continued success as it expands service offerings and its nationwide connectivity.”
MedAvant acquired Qwik+Cross, the Medicare crossover business of the Omaha, Neb.-based HDM Corporation, in January. In the same month, the company announced a partnership with Dallas-based Claimsnet.com to provide a real-time portal for its providers.
Offering a national network for claims processing, MedAvant’s services include real-time eligibility verification, electronic remittance management, business intelligence reporting and automated claims status tracking.
