Sunbound has acquired Richter Healthcare Consultants, a provider of revenue cycle management, accounting, reimbursement, and financial consulting to senior living and post-acute healthcare providers. Combining Richter’s 25 years of experience with Sunbound’s artificial intelligence-powered revenue operations platform will expand the range of solutions and services offered to senior living, skilled nursing, home health and hospice providers. Richter’s deep experience in reimbursement will help Sunbound position itself to serve more complex reimbursement issues and expand the platform and services into skilled nursing, where billing is dependent on Medicare and Medicaid, as well as managed care and private pay. The partnership expects to support about $3 billion in annualized payment volume. Jennifer Richter, founder and CEO of Richter Healthcare Consultants, will remain with the business, focusing on industry partnerships and product strategy. The acquisition follows Sunbound’s $24 million Series A funding round led by TTV Capital, bringing its total funding to $36 million to support business expansion and product development.
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“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.”
