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Madison Street Capital Advises NAVEOS® on Recapitalization and Growth Capital

Chicago/Sterling, VA – June 2014 -- Madison Street Capital (MSC) acted as the exclusive financial advisor to NAVEOS® in arranging recapitalization and growth capital with Tamroc Partners.  NAVEOS® is a leading national healthcare data analytics firm that specializes in maximizing past, present, and future revenues for its healthcare clients.  The announcement was made by Charles Botchway, CEO of Madison Street Capital and the transaction was led by Reginald McGaugh, Senior Managing Director at Madison Street Capital.

“We are extremely pleased with the team at Madison Street Capital,” said Robert Gricius Chairman, Founder & CEO of NAVEOS®.  “I worked closely with MSC over the past year and I am extremely impressed with the process and the various private equity and family offices to which we had a chance to tell our story.  We are excited to work with Tamroc Partners to support our significant growth opportunities.”

NAVEOS® provides Full Cycle Federal & State DSH Revenue Management, Uncompensated Care Reporting and Audit Support, Medicaid Revenue Management, PRRB Appeals Support, SSI Ratio Management, 340B Drug Pricing Program Management, and Medicaid MCO Claims Payment Management to allow its hospital clients to qualify for various reimbursement programs as well as maximize their payments under those programs.

“I was impressed by the dedication and professionalism of the MSC team during this process,” said Ron Evans, President.  “First off, they have a vast network of potential buyers that know them and have grown to respect the quality of the firms they represent.  They were able to use their expertise within the healthcare industry to position us quite well.  They were also able to articulate our value proposition to their network because they took the time to carefully evaluate our business and understand what makes us unique.  Once we selected a potential investor, MSC stayed in front of the due diligence process and worked tirelessly to get the deal over the goal line.  We could not have chosen a better firm to work with.”

“I have evaluated a lot of healthcare data analytics firms and there is no doubt that NAVEOS® has the most robust technology platform and comprehensive services for hospitals,” said Reginald McGaugh. “It was an honor to work with Mr. Gricius, Mr. Evans and their entire management team during this extensive process.”

About NAVEOS®:
NAVEOS® is a national healthcare data analytics firm headquartered in Virginia specializing in maximizing past, present and future revenues for our healthcare clients. The NAVEOS® process for acquiring and managing Medicaid eligibility data is the most robust in the industry. The cornerstone of this process is the Comprehensive Online Member Population Analysis Software System (COMPASSTM). The COMPASSTM system completely integrates validated results with full audit trails and support documentation including clinical, demographic, eligibility, benefit and payer data from over 50 Federal, State, and 3rd party databases. The NAVEOS® patented software and product lines deliver turn-key, fully auditable solutions for all of its service offerings. Quality Assurance in data integrity and a strong focus on internal and external audit functionality in the corporate culture and deliverable packages completes its corporate differentiation characteristics and provides the credibility required to assist clientele in maximizing past and future income from key programs. For additional information, please visit our website at www.naveosdata.com.

About Tamroc:
Tamroc Partners is devoted to acquiring and operating small to medium-sized businesses in the continental United States. Tamroc operates its businesses with the highest standards and the firm prides itself in sustaining a solid reputation and impactful track record. Through strong operational improvements and top-line growth, Tamroc strives to create value for its businesses, customers, employees, and the communities in which it operates. Tamroc’s commitment to job generation and the improvement of social amenities is a direct extension of the founders’ personal beliefs. The principals of Tamroc trust that a strong culture is key to any businesses’ success. A healthy work environment allows companies to pursue their goals with passion and excellence and therefore, create a positive contribution to the entire value chain. For additional information, please visit our website at www.tamrocpartners.com.

About Madison Street Capital, LLC:
Madison Street Capital, is an international investment banking firm committed to integrity, excellence, leadership and service in delivering corporate financial advisory services, merger and acquisition expertise, financial opinions, and valuation services to publicly and privately held businesses. These services position our clients to succeed in the global marketplace. In undertaking each new project, the client’s goals and objectives become ours, ranging from financial advisory and successful capital raises to M&A transactions to transfers of ownership. Madison Street Capital views emerging markets as the core component driving the global growth of our clients, and will continue to focus significant assets on these markets. Our firm has earned the trust of clients around the world through our unwavering dedication to the highest levels of professional standards. For additional information, please visit our website at www.madisonstreetcapital.com.