Aleutian’s Clients Close Two Acquisitions
New York, NY – January 6th, 2009 – Separately, MedAvant Healthcare Solutions (MedAvant), a portfolio company of Marlin Equity Partners, acquired the Qwik+Cross Medicare crossover business of HDM Corporation (HDM). The transaction, which comes just 90 days after Marlin’s acquisition of MedAvant, will provide MedAvant clients with greater payer connectivity and expedited billing to payers offering Medicare supplemental insurance. HDM was founded in 1996 and is based in Omaha, Nebraska. The company processes more than 30 million healthcare claims a year, representing the coordination and payment of over $4.5 billion in patient health care costs. The Qwik+Cross business provides electronic Medicare Crossover claims for policies offered by private insurance companies to cover gaps in Medicare plan coverage.
Aleutian Acquisition Services served as a buy-side advisor to Blackford Capital and Marlin Equity Partners in their respective transactions. In addition, Aleutian Capital Partners, the principal investment arm of Aleutian Capital Group, participated as a co-investor in the acquisition of Amtech Corporation. Terms of the transactions were not disclosed.
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