Longshore Prochant investment backs home-care revenue cycle tech

The Longshore Prochant investment puts new private capital behind a Charlotte, North Carolina-based health technology company serving home-based care providers, according to PE Hub. Financial terms were not disclosed, leaving the size of the investment, valuation and ownership structure unstated.

Prochant provides technology-enabled revenue cycle management services for home-based care providers, PE Hub reported. The company plans to use the new capital to support its next stage of growth, according to the report.

What does Prochant do?

Revenue cycle management is the process healthcare providers use to handle billing, claims and payment collection after services are delivered. In Prochant’s case, PE Hub described the business as serving home-based care providers through a technology-enabled service model.

The investment places Longshore Capital in a segment of healthcare where administrative systems are closely tied to provider cash flow. For operators, revenue cycle tools can affect how quickly claims are processed and payments are collected, although PE Hub did not provide operating metrics for Prochant or details on the company’s customer base.

Joey Graham is chief executive of Prochant, according to PE Hub. The company was founded in 1999.

What did Longshore say about Prochant?

Ryan Anthony, a partner at Longshore, said in the PE Hub report that Prochant has built “a category leading business in a highly attractive segment of healthcare.” The report did not include additional comments from Prochant management or Longshore on product plans, hiring, acquisitions or market expansion.

Lincoln International served as exclusive financial adviser to Prochant on the transaction, PE Hub reported. The role indicates Prochant used an outside adviser to run or support the investment process, though the report did not identify other bidders, financing sources or legal advisers.

The absence of disclosed financial terms limits comparisons with other healthcare technology and services transactions. PE Hub did not state whether Longshore’s investment was a majority acquisition, minority stake, recapitalization or growth equity financing.

For private equity investors, the deal adds another healthcare services technology asset to the market’s pipeline of sponsor-backed companies. For home-based care providers, the transaction highlights continued investor attention on back-office systems that support billing and collections, while the reported facts do not indicate any immediate change to Prochant’s leadership, brand or service offering.

This story draws on original reporting from PE Hub.