Wakefield & Associates, an industry-leading collections and health care revenue cycle solutions company, has acquired the debt collection business of Choice Recovery, Inc., an Ohio-based nationally recognized collections provider. The acquisition of Choice Recovery will further grow Wakefield's geographical presence in the Great Lakes region and enhance its ability to provide a full suite of revenue cycle management services to a wide scope of healthcare industry clients.
As part of this strategic acquisition, Choice Recovery will add more than 90 employees, further expand Wakefield's operations and bolster the company's expertise and capabilities within the healthcare financial services segment and other ancillary verticals.
"The Choice Recovery team is highly skilled and talented, making them a great addition to our growing Wakefield family," stated Matt Laws, President and CEO of Wakefield. "With our business experiencing record growth, the acquisition boosts our ability to rapidly expand our team to meet the growing demands of existing and new clients as we continue to offer best-in-class revenue cycle solutions to healthcare providers across the country at speed and scale."
Wakefield entered the deal now because it has been searching for growth opportunities in priority markets across the country, and Choice Recovery stood out as an appealing acquisition with a like-minded business focused on a consumer-centric collection approach and deep relationships with key healthcare provider partners.
"We determined that this is a compelling transaction for all of Wakefield's stakeholders and a smart strategic move considering today's rapidly changing competitive landscape," Laws said. "Given accelerated industry consolidation, bringing Wakefield and Choice Recovery together provides beneficial scale for our clients."
