Bolder Healthcare Solutions is led by Michael Shea, who has built a national, leading specialized provider of revenue cycle management services.
Mr. Shea previously founded MedAssist Incorporated in 1989. Under his vision and direction, MedAssist grew into one of the largest and most respected national leaders in revenue cycle management. Mr. Shea led MedAssist, as its President and CEO, to become a dominant regional company. In 2003, his vision led to partnering with private equity to grow the company into a national market leader. In the following years, Mr. Shea led the company through a number of acquisitions, product expansion, infrastructure build and solid organic growth. The company more than doubled its revenue from 2003 through 2007, with substantial EBITDA expansion. In 2007, Mr. Shea, along with his private equity partners, sold the company to Firstsource, a strategic buyer from Mumbai, India. The exit multiple was the highest exit multiple to earnings ratio to date in the RCM space.
Upon MedAssist being acquired, Mr. Shea was asked to remain with the company and lead the MedAssist team as its President and CEO. He agreed to stay for a three-year period to transition the company. In the coming years, Mr. Shea was asked to lead additional areas within Firstsource. As a result, Mr. Shea later took on the additional roles of President of Global Healthcare Solutions and CEO of North American Healthcare. Mr. Shea held these positions until he retired in 2011, as planned.
Mr. Shea has been the recipient of multiple professional honors in his career, including the 2003 Ernst & Young Midwest Entrepreneur of the Year award in healthcare. Mr. Shea attended The Ohio State University.