Livingstone advises on recapitalization of DuvaSawko

  • nov. 2019
  • Healthcare
  • M&A: Sell-Side
  • US

Livingstone’s healthcare team is pleased to announce the recapitalization of DuvaSawko, a portfolio company of Ancor Capital Partners, by Varsity Healthcare Partners. Livingstone acted as exclusive financial advisor to DuvaSawko.

Founded in 1998 by well-respected emergency medicine physician-executives Dr. Charles Duva and Dr. Bill Sawko, DuvaSawko has become the leading, national provider of emergency medicine revenue cycle management services. The Company provides billing, coding, accounts receivable management, and data analytics software and services, predominantly serving independent emergency physician groups and hospital-based emergency departments. DuvaSawko manages over 3.6 million emergency room visits on behalf of clients across more than 100 locations in 19 states.

With a singular focus on emergency medicine, DuvaSawko has developed a results-driven, tech-enabled service approach with dedicated in-house account management teams and process-oriented techniques designed to achieve 100% reconciliation, identify all gaps in reimbursement, maximize revenue collection, and ensure compliance. As a result, the Company has established tenured client relationships and a successful track-record of increasing new clients’ revenues by as much as 30%.

In an increasingly complex regulatory environment with long-term reimbursement pressures and evolving revenue models, a quality outsourced revenue cycle management function is a critical component of the healthcare landscape,said Jim Moskal, Partner at Livingstone. Providers offering a value-added service and utilizing technology to increase productivity, improve accuracy, enhance quality, maintain compliance, and maximize revenue are viewed favorably in the market, yielding significant interest from buyers and investors.

Livingstone previously advised DuvaSawko in its sale to Ancor Capital Partners in 2016. This most recent transaction represents Livingstone’s 25th healthcare transaction since 2017.

Hunton Andrews Kurth LLP provided legal counsel to the Company.

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