Opus Bank’s Healthcare Banking division provides $12,000,000 Senior Secured Credit Facility to Healthcare Billing Systems, LLC, doing business as DuvaSawko, to assist the acquisition by Ancor Capital Partners
Overview of Transaction
- Ancor Capital Partners (“Ancor”) recently announced the acquisition of Healthcare Billing Systems, Inc., doing business as DuvaSawko (“DuvaSawko”), a boutique emergency-physician owned and operated revenue-cycle and practice-management company predominantly serving emergency physician groups and hospital-based emergency departments.
- Founded in 1998 by Dr. Charles Duva and Dr. William Sawko, DuvaSawko employs more than 240 employees and serves nearly 30 clients with millions of annual patient visits.
- Founded in 1994, Ancor is based within the Dallas/Fort Worth metroplex in Southlake, Texas, and is an operations-oriented private equity firm focused on lower middle-market companies with EBITDA of $5 million to $15 million.
- Opus Bank (“Opus”) provided the senior credit facility to help complete the arrangement.
Significance of Transaction
- The partnership between DuvaSawko and Ancor combined a strong and efficiently run company with an operations-oriented investment firm that has extensive experience in the healthcare industry. This partnership will provide for continued and dramatic growth in the emergency department-focused revenue cycle management business.
- The existing management team will stay in place post-transaction, which will further increase the positive outcomes DuvaSawko’s clients are accustomed to experiencing
Opus Bank's Role
- This transaction represents the second completed financing between Opus and Ancor.
- As a strategic financial partner, the Opus Healthcare Banking division was integral and proactive in the initial transaction and will work with the partnership to help identify and provide capital support for future endeavors.