Deal Details

Aspirion Is Acquired by Linden

Healthcare

Aspirion, a portfolio company of Aquiline, sale to Linden

Summary

Aspirion (the “Company”), a portfolio company of Aquiline Capital Partners (“Aquiline”), recently signed a definitive agreement to sell a majority stake to Linden Capital Partners (“Linden”). Following the investment, the Company’s management team and Aquiline will remain investors in the Company. Additional financial details of the transaction were not disclosed. The transaction is subject to various regulatory approvals and customary closing conditions.

Baird served as exclusive financial advisor to Aspirion on this transaction.

About

Aspirion, a leader in technology-enabled healthcare revenue cycle management (“RCM”), helps hospitals and physicians recover otherwise lost claims revenue from Motor Vehicle Accidents, Workers’ Compensation, Veterans Affairs, and TRICARE as well as out-of-state Medicaid, Medicaid eligibility, underpayments, and denials. Aspirion’s experienced team of healthcare, legal, and technical professionals combined with industry-leading technology platforms help ensure that providers receive their Complex RCM revenue so that providers, hospitals, and their staff can focus on patient care. The Company serves over 140 clients across 45 states, including 40% of the largest health systems in the U.S. The Company is headquartered in Columbus, GA.

Aquiline Capital Partners, founded in 2005, is a private investment firm based in New York and London investing in companies across financial services and technology, healthcare, and business services. The firm had $8.7 billion in assets under management as of March 31, 2022.

Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is one of the country’s largest dedicated healthcare private equity firms. Linden’s strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating expertise, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Since its founding, Linden has invested in over 40 healthcare companies encompassing over 200 total transactions. The firm has raised over $6 billion in limited partner commitments since inception.

Healthcare

Aspirion, a portfolio company of Aquiline, sale to Linden