VEBER PARTNERS ASSISTS CROSSCURRNT, INC.
IN RAISING EQUITY CAPITAL & RESTRUCTURING IT’S OWNERSHIP
Portland, Oregon – June 15th, 2011 –CrossCurrent, Inc., incisivemd.com (“CrossCurrent” or the “Company”) with the assistance of Veber Partners (“Veber”) has raised over $2MM in additional preferred equity from selected regional private investors, certain new members of management and partners of Veber.
Dennis McNannay, one of the Company founders has retained his ownership in the Company and will continue to serve on the Board of Directors alongside Company CEO Jim Rowe, Rob Goodman, and new Directors, John Crudele, Harry Demorest, Barbara Gaffney and Rodger Adams, Senior Partner at Veber.
Veber Partners sourced the majority of the new funds from its regional client base of private investors who have participated alongside Veber in other Northwest Veber sponsored company ownership transactions. Veber has originated and lead a series of successful buyouts and private investments in the region and continues to seek new business opportunities for its clients and itself. All new investors in CrossCurrent were business professionals interested in participating in the Company’s future growth and development.
Jim Rowe of CrossCurrent commented, “This additional capital is just what we needed to enable the Company to man and implement its new marketing model on a nationwide basis and ensure the continued growth and success of the Company.
Gayle Veber of Veber Partners commented, “This transaction was in the sweet spot of our private equity investment practice— a regional company with an established product and revenue, a promising niche, management talent to capitalize on tangible opportunities, and all within an acquisitive sector.”
CrossCurrent provides surgical practices with a revolutionary revenue cycle management (RCM) software solution designed to optimize the practices’ financial performance and capture lost revenue. The Company’s product improves a surgical practice’s billing and reimbursements processes by ensuring the optimal combination of billing codes and modifiers identified in the actual procedure, and then prioritizing all procedures on the basis of risk and value, and preemptively eliminating reasons for claim rejections.
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