ACU-Serve gets PE backing

PHILADELPHIA – ACU-Serve has received a majority growth investment from Lovell Minnick Partners, a private equity firm focused on financial services, business services and financial technology companies. 

The partnership will allow ACU-Serve, founded in 1993, to expand its suite of comprehensive solutions, accelerate technology innovation and make acquisitions. 

“We share a common goal of not only growing our business but also strengthening our relationships with our clients,” said Founder and CEO Jim Knight, who, along with the current management team will continue to lead the company, which will remain independent. “With LMP’s track record of success in the industry, we are confident that together, we will provide our clients with even greater value, reinforcing our commitment to customer service and technology innovation. We are thrilled to find a partner who supports our vision for growth and one who brings additional resources to help us accomplish our objective of helping more clients, who in turn, provide critical care to patients in need.” 

ACU-Serve's platform includes ACU-Insights, a proprietary business intelligence platform with a workflow and productivity solution to provide clients with real-time, actionable insights into their entire revenue cycle operation. 

In conjunction with the investment, two members have been added to ACU-Serve's board of managers: Scott Bagwell, former president of Experian Health, and Brenda Cline, former CEO of Savista. 

“We have a long track record of successful partnerships with high-growth, technology-enabled companies run by proven, dynamic management teams with client-first attitudes,” said Brad Armstrong, partner at LMP. “We look forward to partnering with Jim and the management team to expand service offerings, enhance technology capabilities, and pursue strategic acquisitions to complement its organic growth trajectory.”