ACF Medical Services Purchases $250 million in Receivables from Four Healthcare Systems

ACF Medical Services, Inc. announced today that it has purchased aged account receivable portfolios from four major healthcare systems representing 12 hospitals and covering six states.

Overall, portfolios purchased by ACF Medical Services ? all of which occurred during the past six weeks ? have a face value of greater than $250 million. According to Daryl Deke, Executive Vice President and Principal of ACF Medical Services, the purchased portfolios represent nearly 300,000 accounts from the various health systems.

ACF Medical Services is a subsidiary of Atlantic Credit & Finance, Inc., one of the nation?s leading purchasers and managers of unsecured, consumer-distressed assets, managing in excess of $6.0 billion. Established in 1996, Atlantic Credit & Finance has been named three times by Inc. 500 as one of America?s fastest growing, privately held companies.

?ACF Medical Services is excited to work closely with each of our healthcare clients to provide them with a new revenue stream for assets that were previously thought to have little or no value,? Deke said. He noted that the money hospitals receive from their aged accounts receivable can be used to fund new capital expenditures such as purchasing vital medical equipment or replacing aging plants or facilities.

?Many healthcare facilities are looking for ways to improve their revenue cycle. We create an enhancement to the existing process which provides immediate cash that they can use in a variety of ways. Specifically, we try to complement the hospital?s existing asset recovery process by working closely with their current revenue-cycle partners and within their guidelines.?

Deke noted that a core strength of the ACF Medical Services program is its in-house training of recovery specialists. He added that each patient is treated with care and compassion throughout the account recovery process.