Harpeth Capital, LLC is pleased to announce that it served as exclusive financial advisor to Citadel Outsource Group, LLC (“Citadel”), a leading provider of outsourced revenue cycle management and related business office solutions to hospitals, in connection with an equity recapitalization with Alexsar Capital, LLC and members of management. Debt financing was provided by Northstar Capital, LLC. The transaction provides liquidity for the existing shareholders and management team, who will continue to own a significant minority interest going forward, as well as capital for future growth.

Led by a team of former hospital professionals with decades of billing and account management experience, Citadel has recovered over $340,000,000 for its clients since its founding in 2004.

“The Harpeth Capital team understood that while I was looking to transition the business over time, I was seeking a unique partner that shared similar values for our type of company and employees, many of whom have been with me since the early days. Harpeth Capital helped guide us through discussions with several parties until we found the right partner. We are excited to form relationships with Northstar and Alexsar, and greatly appreciate the guidance of Harpeth Capital on this transaction.”

-- Rick Shedden, CEO and Founder, Citadel Outsource Group