Firmament Announces Investment in e4 and Intellis Merger

A leading provider of structured equity capital solutions to small and medium-sized businesses recently announced its majority growth equity investment into e4 Services (e4) to support its upcoming merger with Intellis.

Firmament is backing the merger of e4, a leading provider of healthcare consulting and professional services to hospitals and healthcare systems across the U.S., with Intellis, a provider of health information management (HIM), clinical documentation integrity (CDI), coding, and auditing services to the healthcare industry. After the transaction concludes, Intellis will be rebranded as “Intellis, an e4 company.”

The resulting combination will create a nationally-leading provider of HIM and coding solutions, drawing on decades of experience partnering with hundreds of enterprises across the healthcare industry. The management teams of both e4 and Intellis will continue to serve as leaders of the combined business, with e4’s Jim Hennessy serving as the Chief Executive Officer of the combined company.

"The merger of e4 and Intellis creates a unique industry leader within the HIM, coding, and healthcare IT verticals. Like e4, Intellis has a long history of placing customer satisfaction above all else. We could not be happier to merge with such a reputable organization that shares our same values, and we look forward to accelerated growth together” said Hennessy.

Hennessy also commented on e4's partnership with Firmament, stating, "We have been partners with Firmament for over two years and are pleased to deepen our relationship together. Their team has proven to have not only a strong understanding of the healthcare industry, but also a genuine desire to work closely with us to achieve our goals and grow our business."

The healthcare industry continues to reel from the effects of the COVID-19 pandemic, facing tighter operating margins, supply chain issues, and rising labor costs along with staffing shortages. As hospitals and healthcare systems face challenges with hiring and maintaining internal staff, the combination of e4 and Intellis could help ease the difficulty of delivering value to patients and shareholders, offering a one-stop shop to healthcare executives looking to bolster their infrastructure and IT functions as well as HIM, CDI, and coding capabilities.