August 2022: Columbia Pacific Capital Partners (“CPCP”) is pleased to announce its recent partnership with Panacea Healthcare Solutions (“Panacea”) to support its continued growth and future successes.
Founded in 2007, Panacea is a provider of strategic pricing, price transparency, chargemaster, compliance, and mid-revenue cycle software and consulting services to healthcare companies across the full continuum of care.
With this investment, Panacea also acquired Holliday & Associates and First Healthcare Compliance to fuel innovation and expand its current product suite. The combined company will be a leading provider of healthcare revenue cycle and compliance software and services to 600+ hospitals, health systems, physician practices, and accountable care organizations across the United States.
CPCP focuses on lower and middle market software, tech-enabled businesses and business services in North America with attractive growth prospects.
Debjeet Gupta, Managing Partner at CPCP, said, “With exceptional products, people, and processes already in place, Panacea is poised for tremendous growth, and I’m looking forward to working with the team in maximizing its full potential. Through this transaction, Panacea will be able to drive innovation in mid-revenue cycle management, expand its customer base, and continue providing industry-leading technology and software solutions to healthcare enterprises. We are excited about the prospects of building upon the existing platform with both organic growth and add-on acquisitions.”
“Panacea is at the forefront of innovation in healthcare revenue cycle solutions and is well-positioned to further capitalize on the increasingly changing landscape aimed to make healthcare providers and payors more transparent,” added Nisha Sachdeva, Managing Partner at CPCP. “We are excited to partner with Fred and his talented team to bolster Panacea’s leadership position and deliver increased value to the company’s growing customer base.”
The executive management teams of Panacea, Holliday & Associates, and First Healthcare Compliance will remain in place. Panacea CEO Frederick Stodolak will continue to serve as CEO of the combined platform and will expand his role to become an active Chairman of the Board.
Debjeet Gupta and Nisha Sachdeva will have representation on Panacea’s Board of Directors.
Stodolak stated, “When we decided to take this company to the next level, we were thrilled to find partners in CPCP who value the customer-centric leadership position we’ve built and are prepared to help take us to the next level. We are proud of this partnership and are excited for our future growth and continued product innovation. With the acquisition of Holliday & Associates, we are excited that our customers will benefit from access to a comprehensive suite of chargemaster software tools from a single vendor. Furthermore, we look forward to expanding First Healthcare Compliance’s popular learning platform to leverage Panacea’s expertise in inpatient, outpatient, and physician coding and compliance.”
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