Millennium Healthcare, Inc. was a business process outsourcing (BPO) company that provided revenue cycle management (RCM) solutions to physician groups using proprietary adjudication software developed originally by Aetna Casualty and Insurance.
The founding management team of Millennium Healthcare identified the core core technology which was owned by a subsidiary of Aetna. The team required capital to acquire the technology and fund on-going development.
Millennium Healthcare raised $8.5 million of Series A preferred stock to fund the acquisition of the Aetna technology and further development. A principal of Carter Morse & Mathias served as financial advisor to the management group and provided ongoing strategic advisory services to Millennium Healthcare.