We are pleased to announce the sale of our client, Medstat Accounts Receivable Management, Inc. (Medstat), to Innoval Global Solutions, LLC (Innoval). The acquisition closed December 3, 2019 and details were not disclosed.

Medstat, located in Mesa, Arizona, has more than 25 years’ experience in medical accounts receivable management. The Company is committed to providing the highest quality service to ensure medical professionals can focus on their patients, not their paperwork.

Throughout decades of changing laws, regulations, policies and systems, Medstat has consistently remained one of the leading medical billing providers in Arizona.

Innoval, headquartered in Dallas, Texas, provides innovative and scalable Revenue Cycle Management solutions to a wide spectrum of providers in the healthcare industry, including the integration of technology, staff and BPO strategies to improve account liquidity and reduce DSO. Innoval is a holding of Kriya Capital, LLC.

Generational Equity Executive Managing Director of M&A – Western Region, Stephen Crisham’s team, led by Managing Director-Western Region, Lori Galloway, successfully closed the deal. Executive Managing Director Tom Braun established the initial relationship with Medstat.

According to Galloway, "The acquisition of Medstat expands Innoval's accounts receivable management footprint to include the physician office market.”

“Innoval and Kriya Capital's related holdings offer auxiliary services that complement Medstat's back-office support for doctors."