Prochant has partnered with Longshore Capital Partners, a private equity firm that will “support the company’s next phase of growth.”
The Charlotte, North Carolina-based Prochant, a technology-enabled revenue cycle management system for home-based care providers, said in a July 23 news announcement that its collaboration with Longshore will “help the company to continue investing in its people, technology, operational scale and service capabilities. The partnership is designed to support stronger client outcomes while preserving the leadership, culture and client focus that have defined Prochant’s success.”
The funding from Longshore will be invested, Prochant said, in enhancing client experiences and improving client outcomes; advancing technology, analytics, artificial intelligence and automation capabilities; expanding service capacity and operational scale; developing additional revenue cycle solutions for home-based care providers; recruiting, developing and retaining industry and technology talent; and pursuing growth opportunities in its core markets.
“This partnership represents an important milestone for Prochant and a strong validation of the company our team has built,” said Joey Graham, CEO of Prochant. “Longshore shares our conviction in the opportunity to combine deep revenue cycle expertise, purpose-built technology and exceptional client service to help home-based care providers improve financial and operational performance. With Longshore’s support, we will accelerate investment in the business while remaining focused on the clients and markets we know best.”
Prochant supports home and durable medical equipment suppliers, as well as infusion providers and specialty pharmacy providers. The company “combines specialized revenue cycle expertise with technology enabled workflows, analytics and scalable services to help clients navigate complex reimbursement processes and achieve stronger financial outcomes.”
“We are impressed by the strength of the management team, the quality of the client relationships, and the company’s track record of execution,” said Alex Mueckl, principal at Longshore “We look forward to supporting Prochant as it continues to scale and build on its leadership position in home-based care revenue cycle management.”
