424 Capital announced today that it has closed a majority investment with MedHQ of Westchester, IL.
MedHQ is a leading provider of HR and financial management services to healthcare providers across the country. The investment in MedHQ will support the continued growth of the Company’s existing service offerings and allow for the expansion of capabilities to offer additional value to ambulatory surgery centers and healthcare practices.
MedHQ has established itself as a mission-critical provider of HR and financial management services which ensures that best practices are being followed within the complex landscape of medical organizations. The Company’s HR services help with one of the largest challenges that healthcare practices have today: attracting, managing, and retaining talent.
“MedHQ is passionate about adding value to our healthcare customers and transforming the healthcare employment model by improving operations and reducing costs and risk through best practices and innovative solutions,” said Tom Jacob, CEO of MedHQ. “Our partnership with 424 allows us to accelerate our growth and expand our footprint while continuing to serve our clients and provide the critical HR and financial management services they need to serve their patients, teams, and partners.”
“424 Capital is excited to partner with Tom and the entire MedHQ team. Their robust service offering significantly reduces the back-office burden of healthcare organizations so they can focus their attention to the biggest priority of all, patient care. 424 is thrilled to be part of the next phase of MedHQ’s journey,” remarked Kyle Stanbro, Partner at 424 Capital.
Founded in 2003, MedHQ provides human resources and financial management services to ambulatory surgery centers and physician practices nationwide.
Within its HR offering, MedHQ provides payroll, tax, benefits, insurance, credentialing, and consulting services to its clients via a tech-enabled platform. The company also provides customized accounting services including monthly reporting, KPI tracking, forecasting, AP automation and profitability analysis. MedHQ allows healthcare organizations to focus on patient outcomes rather than the administrative and regulatory burdens that come with managing a healthcare organization. For more information about MedHQ, please visit medhq.net.
About 424 Capital:
424 Capital is a growth capital partner that invests in lower middle market companies within technology and tech enabled services. 424 Capital works in partnership with founders and management teams to accelerate and scale for long-term growth. Focusing primarily on investments in healthcare and renewable energy, we invest in, empower, and enable companies to step up, stand out, and make a difference in the world. For more information about 424 Capital, please visit 424capital.com.