3 Boomering Capital Announces Growth Recapitalization of Enjoin, LLC
November 21, 2024
Leading Provider of Clinical Documentation Integrity Solutions Receives Funding to Continue Accelerated Growth
GREENWICH, Conn., Nov. 21, 2024 /PRNewswire/ — 3 Boomerang Capital (“3BC” or “3 Boomerang”), a healthcare-focused, lower middle-market private equity firm, announces a majority growth investment in Enjoin, LLC (“Enjoin” or the “Company”), a leader in Clinical Documentation Integrity (“CDI”) solutions for hospitals and health systems nationwide. 3 Boomerang’s investment in Enjoin provides strategic resources and capital to support the continued expansion of the Company’s tech-enabled capabilities focused on helping healthcare providers manage the increasing challenges of CDI and revenue integrity.
Founded in 1988 by Garry L. Huff, MD, CCS, Enjoin is a physician-directed partner in the mid-revenue cycle to many of the country’s leading health systems. Enjoin works closely with the physicians at each hospital to improve the capture of clinical documentation and coding related to the valued patient care they provide. The Company’s unique pre-bill review solution, coupled with its deep education and advisory capabilities, position Enjoin as a trusted advisor to hospitals, their administration, and their physicians.
“I am incredibly proud of everything that Enjoin has accomplished since I founded the Company over 35 years ago, and I firmly believe that Enjoin and its strong team are well positioned for continued growth and innovation in partnership with 3 Boomerang,” said Dr. Huff.
Steven Bressler, a Managing Director at 3 Boomerang, added, “We are excited to partner with Enjoin and the management team. The Company helps providers not only address numerous challenges related to CDI, but also optimize the overall process of revenue integrity before the bill is sent to the payor. This process increases the efficiency of the payment streams and ensures correct payments, the first time.”
“Dr. James Fee and I were particularly impressed with 3 Boomerang’s depth of knowledge and expertise in our sector and we are thrilled to join forces with them,” echoed Justin Schmidt, CEO of Enjoin. “We look forward to working with 3BC as we enter this next chapter; their investment and healthcare experience will help us grow our company and continue to drive success for our clients.”
About Enjoin®
For over 35 years. Enjoin has helped organizations fully tell their patients’ stories, aligning physician-directed services to enhance mid-revenue cycle functions for better documentation and coding quality. Led by acclaimed physicians with extensive clinical practice experience, coupled with certified coding and clinical documentation credentials, our approach enhances clinical documentation with deep expertise, driving physician engagement, revenue integrity, reducing costs and mitigating risk. Clients achieve demonstrable enhancements to CMI, coding accuracy, quality metrics, risk adjustment and physician alignment for an average ROI of more than 700%. For more information, visit www.enjoincdi.com.
About 3 Boomerang Capital
3 Boomerang Capital is a lower middle-market healthcare private equity firm committed to fostering creative investment partnerships with healthcare entrepreneurs across North America and Western Europe. 3BC’s areas of investment focus span four key healthcare sectors: Biopharma outsourcing, medical device and diagnostic manufacturing, information technology and tech-enabled services, and alternate site care. The firm specializes in backing founder-led businesses, providing the guidance and resources needed for successful growth and innovation in the healthcare market. By strategically concentrating on four core areas, 3 Boomerang Capital is well-equipped to deliver on its mission of empowering healthcare entrepreneurs and propelling healthcare businesses to new heights. The firm is currently investing out of its flagship fund, 3 Boomerang Capital I, LP, a $376 million investment vehicle. For more information, visit www.3boomerang.com.