2018 was an exciting year for New Capital Partners and our portfolio companies. Our companies reached major milestones, from launching groundbreaking programs and products to hiring new executives. Here at NCP, we achieved some big goals as well. As the year comes to a close, we wanted to take a moment to reflect on the past 12 months and everything we’ve accomplished together.
One of the highlights of the year was NCP’s acquisition of Collect Rx, a Bethesda, Md.-based revenue cycle management (RCM) company. At the time of the acquisition, John Bartos, CEO of Collect Rx, said, “We are thrilled to partner with and join the New Capital Partners portfolio. It is great to work with a firm that has extensive healthcare experience. NCP will be able to help us broaden our customer base, enhance our service lines and help us grow our team.” Revenue cycle management is an exciting new healthcare-based sector for the NCP team, and we look forward to more opportunities in this space.
In addition to the Collect Rx platform investment, NCP also completed a new add-on investment with LoyaltyExpress’ acquisition of SoftVu, a leader in creation, management, distribution and tracking of automated marketing strategies for direct-to-consumer markets in the mortgage lending industry, a partnership that allows the companies to deliver complementary solutions to their clients. Later in 2018, LoyaltyExpress had another win with the unveiling of LendingConnect, a new point-of-sale solution and application manager that reduces overall mortgage application and funding timelines.
LoyaltyExpress wasn’t the only NCP portfolio company to launch a new program in 2018. P&R Dental Strategies introduced the DentalQual® Leaders in Quality™ recognition program and the EliteStar™ Dentist Award for the top dentists in the country. The program uses an objective, peer-ranked scoring system rather than testimonials to provide a uniform and defined approach to measuring the quality of dental care. Read what P&R Dental Strategies CEO Paul Sheils had to say about the program in our inaugural NCP Q&A Series blog post from November.
ControlCase received an important recognition in July. The PCI Security Standards Council selected ControlCase to be part of the PCI SSC Global Executive Assessor Roundtable, an executive-level advisory board made up of senior executives from PCI assessor companies. ControlCase is represented on this council by Kishor Vaswani, the company’s Founder and CEO, whom you can also read more about in the NCP Q&A Series. Other companies on the roundtable include IBM, Verizon and Trustwave. ControlCase also hosted their annual Data Security and Compliance Summit in Dubai and Fort Lauderdale, where they share industry knowledge and get to meet their customers in person.
Care Services, LLC held their first annual Advisory Council Meeting in Louisville, Ky. Top-tier clients from both the Long-term Care and Correctional Pharmacy markets participated. The meeting was themed “Charting Our Course” and gave a sneak preview of Care Services’ 2019 strategic initiatives and technology enhancements, including the TracRx solution – which will give clients transparency into claims processing and delivery of medication – and a new reporting portal.
Our leadership teams at several companies have grown this year, with executive hires or promotions at Collect Rx, ControlCase, LoyaltyExpress, Care Services, FireRock, Hospice Partners of America and THMED. New Capital Partners also added three new team members with a new Analyst, Marketing Manager and Office Manager. Our interns – Chase, Jay, Price and Lera – were valuable additions during the summer months.
The whole NCP team, along with our portfolio company leaders, had the opportunity to gain new insights and put plans into action at the 2018 Fall Leadership Conference, the fifth annual event of its kind. The three-day conference featured expert-led workshops on the topics of strategy, talent, culture and sales/marketing. See what participants had to say about their experiences at this year’s conference in our FLC blog post.
NCP is dedicated to serving our communities as well as our companies, and the team participated in several charitable events in 2018, included the Susan G. Komen Race for the Cure, Movember and the second annual Woodlawn Sunday Dinner here in Birmingham.
Our commitment to Building Great Companies is stronger than ever, and we’re looking forward to continuing to grow our companies through exceptional customer service in 2019. Thanks for a great year!