In a press release, private equity firm Thompson Street Capital Partners (TSCP) announced that the supplier of recognition solutions OrboGraph had been purchased by RMS, TSCP’s automated healthcare payments company.
Orbograph already operates in the healthcare sector and provides services to help with check fraud and payment negotiability. According to the news release, two automation-focused healthcare IT companies were combined as a result of the company’s acquisition.
The release states that OrboGraph would continue to provide its AI-based check imaging and fraud detection service while operating independently under its own name. Barry Cohen, the CEO of OrboGraph, will remain in that position following the merger of the companies.
The two companies would “continue to lead and focus on the expansion of our check business” as a separate subsidiaries under RMS, according to Cohen. The healthcare services of the two companies will likewise be “integrated.”
According to Brian Kornmann, managing director of TSCP, the company thought the time was right to proceed with the acquisition.
We have watched OrboGraph grow under Barry Cohen’s leadership for the past seven years, and we believe the moment is right to unite these two exceptional companies, he continued. According to the statement, “Both RMS and OrboGraph will continue to actively explore acquisition opportunities that provide the top technology-driven automation solutions in their respective areas.”
They also recently revealed that Made4net, a company connected to TSCP, has purchased Zethcon.
Software for warehouse management and supply chain execution on the cloud is offered by Made4net, whilst Zethcon’s platform is made for the third-party logistics (3PL) market.
According to TSCP, a best-of-breed warehouse software company that serves an impressive global footprint of blue-chip 3PL and non-3PL customers, spanning virtually all industries, is created when Zethcon’s multi-decade track record of delivering premier 3PL WMS solutions is combined with Made4net’s WMS product leadership across a broad diversity of end markets that extend beyond 3PL.
