HOUSTON–(BUSINESS WIRE)–Lightning Step, a Gallant Capital Partners-backed provider of enterprise behavioral healthcare software solutions, is pleased to announce the sale of its wholly-owned revenue cycle management (“RCM”) services subsidiary, AVA Billing & Consulting (“AVA”) to Medusind, an Alpine Investors portfolio company and a leading provider of RCM services to the healthcare industry. The divestiture of AVA enables Lightning Step to continue its rapid growth trajectory and accelerates the expansion of its all-in-one behavioral healthcare software platform.
Lightning Step acquired AVA in 2019, and under Lightning Step’s ownership, AVA evolved into an industry-leading full-service RCM solution trusted by many behavioral healthcare facilities and treatment providers nationwide. AVA is well positioned under Medusind’s leadership to continue expanding its high quality, client-focused service offering.
“Since acquiring AVA in 2019, Lightning Step has worked diligently to grow AVA from its infancy to its current status as a leading RCM solution,” said Kirk Monroe, CEO of Lightning Step. “We are excited that AVA will continue its growth in the hands of its new owners, who are highly experienced and respected in the industry. With the robust support and resources offered by Medusind, we are confident the experience and outcomes will only improve for AVA’s clients.”
“Divesting AVA will allow the Lightning Step leadership team to focus their time and resources on new product development, expanding go-to-market capabilities, and delivering the best possible software and technology-driven solutions to the behavioral healthcare industry. We are excited to see what comes next for Lightning Step,” said Jon Gimbel, Partner at Gallant Capital Partners.
By selling AVA, Lightning Step is reinforcing its focus on building a suite of innovative and automated all-in-one behavioral healthcare solutions. Lightning Step is committed to providing advanced software that improves patient outcomes, streamlines operations, and reduces costs for its clients.
Terms of the transaction were not disclosed.
About Lightning Step
Founded by former operators, Lightning Step offers the industry leading all-in-one software solution for the behavioral health and addiction treatment market, which includes electronic medical records, revenue cycle management, and customer relationship management in a single platform. Since its founding in 2016, Lightning Step has been committed to helping its partners attract clients, manage admissions, and improve billing and collections to allow caregivers to focus on what matters most – helping patients achieve the best possible outcomes on their recovery journey. For more information, please visit www.lightningstep.com.
About Gallant Capital Partners
Gallant Capital Partners is a private equity firm that invests in technology, business services, and industrial companies. Gallant executes an operationally focused investment strategy with a priority on partnering closely with companies that can benefit from its extensive industry relationships and operating expertise. The firm partners with owners, founders, and management teams to maximize value and drive long-term, sustainable growth for its portfolio companies. Gallant was founded in 2018 and is headquartered in Los Angeles. For more information, please visit www.gallantcapital.com.
Contacts
Cole Field, Director of Marketing, +1 (214) 724-9811, cole.field@lightningstep.com