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AdvantEdge Healthcare Solutions Acquires Hill Associates

  AdvantEdge Healthcare Solutions Acquires Hill Associates

   AdvantEdge expands its comprehensive medical billing services to include
                           behavioral health claims

Business Wire

WARREN, N.J. -- March 6, 2013

AdvantEdge Healthcare Solutions, one of the nation’s leading providers of
comprehensive healthcare financial management solutions including medical
billing, practice management, and coding services for specialty physicians,
hospitals, and surgery centers, has acquired Hill Associates, a New
Hampshire-based medical billing company. Hill Associates is a leading provider
of billing services and software to the behavioral health industry, and is a
natural complement to AdvantEdge, which has expanded its strong footprint to
include the behavioral health specialty through this partnership.

“As the link between physical and behavioral health is becoming more apparent,
hospitals and health systems are integrating with behavioral health facilities
and looking for companies that can provide services to meet enterprise-wide
needs,” said David Langsam, President and CEO of AdvantEdge. “Hill Associates
is a leading provider of billing services in behavioral health, making it the
perfect fit for AdvantEdge as we continue to execute our company’s growth
plan. Our partnership with Hill will help us further expand our services to
assist behavioral health organizations throughout the U.S.”

“AdvantEdge and Hill Associates share the same commitment to collecting the
most money in the most expedient manner on behalf of our customers,” said Alan
Hill, President of Hill Associates. “The strategic decision to align our
company with AdvantEdge, a growing and innovative leader in the field, was
about expanding our resources to enhance that commitment. AdvantEdge has
extensive experience with physical health claims processing; developing
interfaces with a variety of EMRs, clinical information platforms, and other
systems; as well as sophisticated business analytics and reporting tools.
These resources will be applied to benefit our behavioral health customers. By
serving our growing customer base under the AdvantEdge banner, we’ll be able
to strengthen our combined range of services, resources, and expertise.”

Hill Associates will be the “Center of Excellence” for AdvantEdge’s expanding
behavioral health business.

ORIX Ventures provided AdvantEdge with senior financing to complete this
transaction. “ORIX worked immediately to facilitate our acquisition of Hill
Associates and we are pleased to have ORIX as a trusted lender,” said Langsam.
Jeff Bede, Principal in ORIX Venture’s Washington, D.C. office said, “ORIX
Ventures is excited to continue to support AdvantEdge's growth strategy. We
have backed AdvantEdge on multiple acquisitions and are believers in the
management team and their proven ability to execute on their acquisition and
integration strategy.”

About AdvantEdge Healthcare Solutions

AdvantEdge is a technology-enabled provider of healthcare financial management
solutions and business intelligence tools that substantially improve decision
making, maximize financial performance,streamline operations and eliminate
compliance risks for healthcare providers.AdvantEdge continues to gain
meaningful scale through organic growth and strategic acquisitions, having
completed seven since 2007. AdvantEdge is recognized as one of the top 10
billing, coding, and practice management companies in the U.S.; has more than
675 employees in eight regional offices in the U.S. and one office in
Bangalore, India; and collects over $1 billion annually for its physician and
hospital clients using its own proven technology. AdvantEdge clients include
hospital-based physicians, hospitals, ambulatory surgery centers, and large
office-based groups. AdvantEdge is backed by major investors including
Safeguard Scientifics (NYSE:SFE) and Founders Equity. For more information
about AdvantEdge, please visit our website at www.ahsrcm.com, “like” us on
Facebook, or follow us on Twitter at @DoctorBilling.

About ORIX Ventures

ORIX Ventures provides customized financial solutions to mid- and late-stage
growth companies with established customers and run-rate revenues of $10
million or greater. Since its inception in 2001, ORIX Ventures has invested
more than $1 billion in capital with over 100 growth companies throughout the
U.S. and Canada. For more information on ORIX Ventures, please visit
www.orixventures.com. ORIX Ventures is a subsidiary of ORIX USA, which holds
approximately $6 billion of assets and manages an additional $25 billion. ORIX
USA is a wholly owned subsidiary of ORIX Corporation, a Tokyo-based, publicly
owned international financial services company with operations in 28 countries
worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock
Exchanges (IX). Follow us on Twitter: @orixventures.

Contact:

Press Contact:
Gregory FCA
Hannah Messinger, 610-228-2147
Assistant Account Executive
Hannah@GregoryFCA.com
or
AHS Contact:
AdvantEdge Healthcare Solutions
Bill Gilbert, 908-279-8120
Vice President Marketing
bgilbert@ahsrcm.com
 
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