TREND Health Partners Acquires Advent Health Partners

2023-12-15

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COCKEYSVILLE, Md.--(BUSINESS WIRE)--TREND Health Partners (“TREND”), a rapidly growing provider of healthcare credit balance management and payment accuracy solutions, announced today that it has acquired Advent Health Partners, Inc. (“Advent”). This strategic combination solidifies TREND’s position as a leading AI-driven payment accuracy and revenue integrity platform for healthcare payers and providers.

'We are incredibly proud of what the Advent team has accomplished over the past decade, and of the significant value that we have delivered to our clients. We couldn\u2019t be more excited to partner with the team at TREND and continue building on that legacy'

Founded in 2010, Advent’s cross-functional team of clinical experts, software developers and data scientists have collaborated to develop CAVO®, its proprietary technology platform. CAVO® uses artificial intelligence to streamline the review of medical records in revenue cycle and payment integrity processes such as denials management, utilization management, itemized bill reviews and DRG reviews. Like TREND, Advent’s solutions aim to improve reimbursement accuracy and reduce administrative costs while fostering collaboration and transparency between payers and providers.

The addition of Advent’s complementary solution offering and technology capabilities will enable TREND to deliver even greater value to both payer and provider clients by integrating clinical and non-clinical data and analytics into a single platform. The combined company will serve more than 50 health plans and nearly 1,000 hospitals.

“Rarely do you come across two companies with such complementary capabilities and aligned visions as what we found with TREND and Advent. CAVO® will help us extend our existing platform, TRENDConnect, to solve an even broader set of challenges for our payer and provider clients. We are very excited to welcome the Advent team into our organization,” said Sarah Armstrong, CEO of TREND.

“We are incredibly proud of what the Advent team has accomplished over the past decade, and of the significant value that we have delivered to our clients. We couldn’t be more excited to partner with the team at TREND and continue building on that legacy,” added Mark Thienel, CEO of Advent.

The acquisition is being supported by a follow-on investment from Lone View Capital, TREND’s first institutional investor, which has backed the company since 2022.

OM Partners, LLC served as exclusive financial advisor and Barnes & Thornburg LLP served as legal counsel to Advent. William Blair & Company served as financial advisor and Holland & Knight LLP served as legal counsel to TREND.

About TREND Health Partners – TREND Health Partners is an independent healthcare payment integrity company. Through a suite of technology-enabled credit balance management and payment accuracy solutions, TREND seeks to improve reimbursement accuracy and reduce administrative costs while fostering collaboration and transparency between payers and providers. For more information, please visit www.trendhealthpartners.com.

About Advent Health Partners – Advent Health Partners is a leading healthcare technology company dedicated to optimizing the clinical review process. Serving as a strategic partner to hospitals and health plans across the nation, Advent's AI-driven platform identifies and standardizes clinical attributes from itemized bills and medical records, expediting critical information presentation and ensuring timely and appropriate reimbursement. For additional details, please visit AdventHP.com.

About Lone View Capital – Lone View Capital is a growth-oriented private equity firm investing across the technology ecosystem. Lone View’s team comprises both investors and operators who leverage their deep domain and operational expertise to build market-leading businesses. Lone View is based in Los Angeles, CA.