WestView Capital Partners Invests in Xtend Healthcare

Hendersonville, TN

Xtend Healthcare, LLC (“Xtend or “the Company”), a leading national provider of revenue cycle outsourcing solutions to the hospital market, today announced an investment by WestView Capital Partners, a Boston-based private equity firm focused on lower middle market growth companies.

Xtend’s technology-enabled, accounts receivable management services offer an attractive value proposition for hospitals looking to outsource all or portions of their revenue cycle operations as well as supplement in-house capabilities. The Company provides a comprehensive range of outsourced services designed to maximize revenue and cash collections while controlling business office expenses for a diversified group of hospitals and hospital systems. With a longstanding reputation for best-in-class service, Xtend’s management team, led by co-founders Tom O’Neill and Howard Kirshner, has been assisting healthcare providers in meeting the challenges of revenue cycle management for over three decades.

“We have established our market-leading position by focusing on the diverse needs of each and every client and consistently delivering exceptional results,” said Tom O’Neill, Co-founder and CEO of Xtend. “Our partnership with WestView enables us to pursue our next stage of growth and continue to provide a dynamic revenue cycle solution to both existing and new clients as they face the challenges of a constantly evolving healthcare environment. In addition, we look forward to benefiting from WestView’s longstanding experience working with high growth companies in the revenue cycle management and healthcare outsourcing sectors.”

“Xtend’s proven outsourcing solutions address the multiple pain points and increasing complexities faced by hospital administrators. We believe Xtend is perfectly positioned to capitalize on the growing opportunity within healthcare for outsourced revenue cycle management services,” said Matt Carroll, General Partner at WestView, who will join Xtend’s board of directors. “Our investment in Xtend fits well with our experience investing in technology-enabled healthcare outsourcing companies focused on providing innovative solutions for the rapidly evolving reimbursement environment faced by healthcare providers today,” Carroll noted. “The Xtend management team has a proven track record of delivering impressive results and exemplifies our commitment to partnering with experienced, high caliber, entrepreneurial management teams,” added Tom Reardon, Principal at WestView who will also join the Company’s board.

Brentwood Capital Advisors advised Xtend on the transaction and co-invested alongside WestView. Senior debt financing was led by Abacus Finance Group, LLC and was joined by Crescent Capital Group LP.

About Xtend Healthcare:

Xtend Healthcare is a market leading provider of revenue cycle outsourcing solutions to the hospital market. The Company’s services range from short-term, resource intensive solutions for temporary accounts receivable issues to long-term, full-service, revenue cycle outsourcing. The Company’s client base encompasses both small, critical access hospitals as well as multi-hospital health systems. Xtend was founded in 2009 and is headquartered in Hendersonville, Tennessee. For more information, please visit www.xtendhealthcare.net.

About WestView Capital Management, Inc.:

WestView Capital Partners, a Boston-based private equity firm focused exclusively on lower middle market growth companies, manages approximately $1 billion in capital across three funds. WestView partners with existing management teams to sponsor majority and minority recapitalizations, growth, and consolidation transactions in a wide range of industries including healthcare services, business and technology services, software, industrial/manufacturing, and consumer/retail. WestView invests in companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $50 million. For more information, please visit www.wvcapital.com.