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SOURCE Jopari Solutions, Inc.
CONCORD, Calif. and BOSTON, Jan. 3, 2018 /PRNewswire/ -- Jopari Solutions, Inc. ("Jopari" or the "Company"), a provider of Software-as-a-Service solutions which enable the electronic exchange of claims, clinical attachments and payments to the property & casualty, commercial and government healthcare markets, today announced that it has received a significant growth investment from WestView Capital Partners.
Headquartered in Concord, CA, the Company's software solutions are integrated with leading workers' compensation and auto medical payers both directly and through key industry channel partners. Jopari has built an extensive connectivity network for these payers by partnering with many of the leading claims clearinghouses, RCM/billing systems, practice management and electronic medical records vendors. As a result, Jopari is recognized as a leader in bringing administrative simplification and cost savings to all stakeholders via the electronification of the claims submission, clinical attachment and payment process.
"Jopari has had a longstanding commitment to leading the electronic billing movement in the workers' compensation and auto medical markets, where clinical attachments have always been front and center in the claims process," said Steve Stevens, CEO of Jopari. "As these markets evolve further and upgrade their payment platforms and as the commercial and government payer market continues its broad adoption of clinical attachment exchange, our new partnership with WestView is well timed and will enable Jopari to fully capitalize on these opportunities. The WestView team has a proven track record in the revenue cycle management and healthcare technology sectors. We look forward to leveraging the experience and relationships they bring to our team."
"Jopari and its management team pioneered electronic claims and attachment submission in the P&C market," said Matt Carroll, General Partner at WestView, who will join Jopari's Board of Directors. "The Company's expertise in these two important areas, combined with their longstanding direct and channel partnerships with leading providers and payers, position Jopari well with regard to emerging trends in both medical payments and clinical attachments across the spectrum of payers," added Carroll. "Our investment in Jopari continues to build on our experience investing in the healthcare revenue cycle sector. The entire management team at Jopari exemplifies the type of passionate, innovative people we look to partner with," added Kevin Twomey, a Senior Associate at WestView who will also join the Board of Directors.
WestView was represented by Latham & Watkins LLP while Jopari was represented by Holland & Hart LLP.
Jopari Solutions, Inc. is a healthcare information technology company supplying innovative healthcare Attachment management, integrated eBill compliance and flexible medical payments for Workers' Compensation and Auto Medical markets. Jopari has established an extensive connectivity network linking Payers, Providers, practice management systems and clearinghouses, and offers innovative solutions to assist with the management of attachments. Jopari enhances Payers' ability to manage medical bills and disbursements, allowing reductions in associated expenses in addition to compliance with applicable federal rules and jurisdiction eBill/ePay regulatory requirements. Jopari maintains best practice SSAE 16 Type II attested internal controls. For more information, please visit jopari.com, email firstname.lastname@example.org or call 800.630.6030 x5700.
About WestView Capital Partners:
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in industries such as healthcare technology and outsourcing, business services, software and IT services, consumer, and growth industrial. WestView invests in companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $60 million. For more information, please visit www.wvcapital.com.
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