US company RMS buys Israel’s OrboGraph for over USD 100 million
Revenue Management Solutions (RMS), a healthcare payment automation service provider based in Oklahoma City, has bought Israeli company OrboGraph, which provides advanced check recognition and fraud detection solutions and automated healthcare payment processing.
Founded in 1995, OrboGraph, which is located in Rehovot and in Massachusetts, claims to be a world leader in AI-based check recognition.
The USD 100 million plus acquisition was financed through the first follow-on fund of St. Louis-based private equity firm Thompson Street Capital Partners (TSCP), which owns RMS.
RMS was represented by Sidley Austin, while Herzog provided Israeli counsel to the U.S. company. Tulchinsky Marciano Cohen Levitski & Co. represented Orbotech Ltd. and its subsidiary, Orbograph Ltd., in the sale of Orbotech’s shares in Orbograph.
Read more in Globes.
