Hughes & Company

Hughes & Company is a private equity firm based in Chicago, Illinois, founded in 2011. The firm specializes in later-stage investments, including growth equity, recapitalizations, and buyouts, primarily targeting the lower middle market. Hughes & Company focuses on the healthcare sector, particularly in healthcare software, technology-enabled services, distribution, manufacturing, and other related areas. The firm typically invests between $4 million and $20 million in companies with an EBITDA of around $10 million, seeking both minority and majority control transactions. As a Registered Investment Adviser, Hughes & Company is dedicated to identifying and supporting growth opportunities in North American healthcare and technology sectors.

James Denny Jr.

Managing Partner

Travis Hughes

Founder and Managing Partner

Naile Kovuk

Managing Partner

Matthew Simas

Managing Partner

5 past transactions

Encoda

Private Equity Round in 2022
Encoda is a developer of a cloud-based medical billing platform aimed at automating healthcare reimbursement processes. Drawing from over thirty years of experience in physician practice management software, the company designed its patented revenue cycle management platform, Encoda BackOffice, focusing on fundamental principles. The platform integrates with existing billing software to automate various operations, including claim submission, payment posting, and claim follow-up. By streamlining these processes, Encoda enhances staff productivity, improves the revenue cycle management process, and accelerates payment velocity for its clients.

iN2L

Acquisition in 2016
It’s Never 2 Late (iN2L), founded in 1999

Aperture Credentialing

Acquisition in 2014
Aperture Credentialing, Inc. specializes in credentialing services for healthcare providers, offering a comprehensive range of solutions that include application gathering, primary source verification, credentialing, review committee processes, reporting and delivery, as well as ongoing sanctions monitoring. The company effectively manages provider networks, catering to payers, providers, and government entities. Established in 1996 and headquartered in Louisville, Kentucky, Aperture Credentialing has positioned itself as a leading provider in the industry, leveraging over 20 years of experience to deliver compliance-driven, cost-effective software and professional services tailored to diverse healthcare facilities and providers.

Aldera

Series B in 2013
Aldera Holdings, Inc. is a healthcare software company that specializes in providing administration and private portal solutions for healthcare payers and administrators. Founded in 2002 and headquartered in Lisle, Illinois, the company offers a versatile web-based platform designed to accommodate various healthcare lines of business, including medical, dental, vision, and pharmacy. Aldera's platform integrates over 30 third-party healthcare applications, supporting approximately 37 million members in both commercial and government markets. The solutions are available through cloud-based or on-premise deployment models, allowing customers to choose between SaaS subscription or term license options. Aldera operates as a subsidiary of Evolent Health, Inc., and is recognized for its ability to help organizations address industry challenges and enhance business performance.

Aldera

Acquisition in 2012
Aldera Holdings, Inc. is a healthcare software company that specializes in providing administration and private portal solutions for healthcare payers and administrators. Founded in 2002 and headquartered in Lisle, Illinois, the company offers a versatile web-based platform designed to accommodate various healthcare lines of business, including medical, dental, vision, and pharmacy. Aldera's platform integrates over 30 third-party healthcare applications, supporting approximately 37 million members in both commercial and government markets. The solutions are available through cloud-based or on-premise deployment models, allowing customers to choose between SaaS subscription or term license options. Aldera operates as a subsidiary of Evolent Health, Inc., and is recognized for its ability to help organizations address industry challenges and enhance business performance.
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