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Corporate Overview and History

 

 Passport

Passport, a part of Experian, creates solutions to enable hospitals and healthcare providers to improve business operations and achieve Payment Certainty for Every Patient®. Founded in 1996 and headquartered in Franklin, Tenn., the organization is among the nation’s fastest-growing Software-as-a-Service companies. The Passport eCare® brand of patient access and payment certainty solutions are delivered to over 2,900 U.S. hospitals and more than 10,000 other healthcare facilities in all 50 states.

2013
In November, Passport was acquired by Experian, and will be fully integrated into the Experian Healthcare group in 2014.

In January, made sixth acquisition – Data Systems Group, Sacramento, CA.

 

2012
Made fifth acquisition – STAT Scheduling Technologies, Hazlet, NJ.

 

2009
Scott MacKenzie named Chief Executive Officer; Jim Lackey to remain Chairman of the Board.

 

2008
Made fourth acquisition – Nebo Systems, Inc., Oakbrook Terrace, Ill. and its claims outsourcing subsidiary, Cosand Group, Springfield, Ill.

Received $232 million investment from Spectrum Equity Investors, Boston, Great Hill Partners, Boston, Primus Capital Funds, Cleveland, Goldman Sachs Specialty Lending Group, New York, and Ares Capital Corporation, Los Angeles. The transaction provided liquidity to long-term venture capital and angel investors.


2007
Refinanced $11 million of subordinated debt to replace it with senior debt.
Processed 100 million transactions in a year for the first time.


2006
Completed a $70 million leveraged recapitalization.
Processed more than 75 million transactions in a year for the first time.


2005
Made third acquisition – Healthworks Alliance, Inc. in King of Prussia, Pa.


2004
Made second acquisition – Milwaukee-based ProServices, Inc.


2002
Took second venture capital investment from CB Health Ventures, New York.


2001
Made first acquisition – Los Angeles-based Medicheck Services, Inc.


1999
Angel investors were joined by a venture capital investment from Dauphin Capital, New York.


1998
Incorporated as Passport Health Communications, Inc.


1997
Processed first billable transaction on debut product, Passport OneSource®.


1996
Company was founded as InterMed, LLC and operated as a bootstrap shop building Web sites for physicians, hospitals and insurance companies. Later in the year it accepted angel investor money from health care leaders in the Nashville, Tenn. area and expanded into Internet-based insurance eligibility verification.