BAY SHORE, N.Y., June 16 — Fellow Health Partners (“Fellow”), a leading provider of revenue cycle management (“RCM”) services to physician groups, ambulatory surgery centers, and healthcare organizations nationwide, today announced that it has received a strategic investment from Cleargate Capital Partners (“Cleargate”), a healthcare-focused private equity firm committed to long-term partnerships with founder-led, lower middle market businesses. Terms of the transaction were not disclosed.
Fellow helps healthcare providers navigate an increasingly complex environment by delivering RCM services that improve collections, reduce administrative burdens, and enhance financial performance. Fellow supports more than 500 clinicians across approximately 50 healthcare organizations nationwide. It has earned a reputation for highly attentive customer service and deep subject matter expertise in orthopedic surgery, anesthesia, ambulatory surgery centers, and other specialty physician practices. CEO Michael N. Brown and the rest of Fellow’s management team will continue to lead the organization through this next chapter of growth.
“Since our founding, we have grown by maintaining a culture centered on service, accountability, innovation, and opportunity,” said Michael N. Brown, Chief Executive Officer of Fellow Health Partners. “The Cleargate team understands that our culture and commitment to our customers underpins everything we do and drives our business forward, and we believe they are the right partner for our next phase of growth. Cleargate’s support will ensure we are well positioned to capitalize on the numerous opportunities ahead of us, deepening our technological capabilities and expanding our client footprint.”
Cleargate will provide Fellow with the additional resources needed to accelerate investment in its SAVi technology platform and enhance its workflow technologies for the benefit of healthcare providers. Additionally, Cleargate will help Fellow evaluate acquisition opportunities that expand Fellow’s services offering and geographic presence.
“We understand growth-oriented healthcare businesses and look forward to helping Michael and his team execute Fellow’s customer-centric strategy,” said Will Ritchie, Partner at Cleargate Capital Partners. “Across the range of RCM opportunities that we have evaluated, Fellow stood out as an end-to-end RCM provider that delivers best-in-class results to complex specialties through white glove service and robust technology. We are excited to partner with Michael and the Fellow team as they deliver exceptional outcomes to a growing list of healthcare providers across the country.”