Building a Leading National Provider of Complex Claims Revenue Maximization Services
ARLINGTON, VIRGINIA – (DECEMBER 7, 2016) NaviMed Capital, a Washington, DC-based private investment firm focused on the healthcare industry, announces the formation of Argos Health, Inc., a specialty revenue cycle management company serving hospitals, health systems, and physicians groups. Argos focuses on billing and collecting complex claims from workers’ compensation, motor vehicle, and other third party liability insurers.
Argos Health is the third platform investment out of NaviMed Capital’s $113 million committed capital fund. Over their 20+ years in the healthcare industry, NaviMed’s principals have accumulated extensive experience investing in financial and transaction services businesses, including Lucent Health Solutions, ConnectiCare Holdings and Heritage Health Systems.
NaviMed has partnered with experienced executive Brent McCarty to form Argos Health. Mr. McCarty, who will serve as President and Chief Executive Officer of Argos, brings more than 25+ years as a senior executive in the healthcare industry. He previously served as the Chief Operating Officer and President of Accuro Healthcare Solutions, Inc., a technology enabled revenue cycle solutions provider which grew rapidly during his tenure. Mr. McCarty has also held leadership roles in several healthcare provider organizations and has extensive experience partnering with hospitals, health systems and physician groups.
As a key step in launching its services, Argos Health has reached agreement to acquired CompMed Analysis, LLC, a Hudson, OH-based provider of workers’ compensation claims processing solutions for hospitals and healthcare systems. CompMed Analysis Founder & President, Sherrie Bearden, will continue to lead CompMed’s business operations for Argos Health and will remain a significant shareholder in the new company. Argos Health intends to focus on expanding CompMed’s geographic footprint and service offerings. CompMed’s operational team will remain intact so that clients will continue to receive the same excellent service while CompMed works to further enhance their overall experience.
About NaviMed Capital
NaviMed Capital is a Washington, DC-based private investment firm focused exclusively on the healthcare industry. NaviMed partners with exceptional management teams to build compelling businesses for this new era of healthcare. NaviMed helps companies scale, through both expansion and acquisition, while also facilitating liquidity for founders who are ready to transition their companies to the next phase of growth. NaviMed invests capital on behalf of major foundations, endowments, pension funds and other institutional investors. For additional information, please visit www.navimed.com or call Ryan Schwarz at 202-568-6470.