Richter Healthcare Consultants Acquired by Sunbound

WASHINGTON and CLEVELAND—Sunbound, a revenue operating system for senior living, announced it has completed the acquisition of Richter Healthcare Consultants, a revenue cycle management (RCM), accounting and advisory firm for home health, hospice, senior living and skilled nursing operators. Richter’s founder and CEO, Jennifer Richter, will remain with the company in a new role focused on industry partnerships and product strategy. Financial terms were not disclosed.

The acquisition follows the recent close of Sunbound’s $24 million Series A, bringing the company’s total funding to $36 million. Sunbound said it will use the new capital to accelerate business growth and product development.

Sunbound said Richter’s deades of expertise gives Sunbound a foundation to expand further into skilled nursing, one of the most complex segments in post-acute billing.

“Senior living operators spend significant time and effort dealing with manual and inefficient financial workflows,” said Manny Cominsky, Co-Founder and CEO of Sunbound. “The industry deserves a modern solution that simplifies payments for both senior living operators and their families. Our platform directly addresses the operational inefficiencies, financial underperformance, and cash flow issues that have plagued operators for years. By joining forces with Richter, a company with deep expertise in skilled nursing and post-acute care, we can transform revenue operations for even more care providers.”

Clients of both companies will not experience any service interruptions, and each will benefit from the other’s offerings over time, the company said.