Reston, VA – January 22, 2015. Leeds Novamark Capital (“Leeds Novamark”) is pleased to announce that it has provided subordinated debt and an equity co-investment for the recapitalization of Quick Med Claims, LLC (“QMC”) by BB&T Capital Partners, management, and Wasena Capital Management. Headquartered in Pittsburgh, PA, QMC is a national leader in emergency medical ground and air transportation billing and reimbursement services to hospitals, municipalities, and private emergency transportation businesses. The company’s service offerings include fully integrated turn-key claims processing, accounts receivable management, and reimbursement/compliance consulting. QMC serves customers in over 30 states across the U.S.
“Over the last few years, management has grown QMC into a market leading platform offering the highest levels of service and compliance to its customers. We are excited to support BB&T Capital Partners and the QMC team as the company enters its next growth phase”, said Matt Kelty, Managing Partner of Leeds Novamark.
“We chose Leeds Novamark due to their flexibility and certainty of closure,” said Tom Westbrook, Partner of BB&T Capital Partners. “We were impressed with their speed of execution and partnership approach which contributed to a smooth closing. We expect them to be a key pillar of support as QMC further consolidates its position as a leader in the emergency transportation billing industry”, added Mr. Westbrook.
About Leeds Novamark Capital
Based in Northern Virginia, Leeds Novamark Capital is a licensed Small Business Investment Company with over $235 million of capital under management that provides debt and equity capital to lower middle market companies. Leeds Novamark invests across a broad range of industries and typically provides between $5MM and $20MM of capital to companies in support of buyouts, recapitalizations, refinancings, and acquisition and growth financings. The firm seeks companies that generate at least $2 million of EBITDA and places an emphasis on management-owned and family-owned business.
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