Muncie-based Ontario Systems LLC has been acquired by a Washington D.C.-based private equity firm. The revenue cycle and accounts receivable technology company says the deal with Arlington Capital Partners will accelerate product strategy and cloud innovation.
Arlington has purchased a majority share in Ontario Systems, replacing a former major investor. The Muncie company says it recorded many of its largest ever customer contracts in history this year, specifically and the health care market. The companies say the move is not expected to affect the current management team, employees or market strategy.
In a release from Ontario Systems, Vice President of Marketing Casey Stanley said, "We’re coming off a strong 2014, which saw strong growth in our net headcount, and we have continued hiring in 2015. Our existing strategy of investing in and around Muncie and Central Indiana remains unaltered, as we continue to focus on our people and our community. We look forward not only to our new relationship with Arlington Capital, but also continuing our existing relationships with Ball State University, Ivy Tech and other local schools as a way to find the new talent we need to grow."
Ontario Systems will hold its accounts receivable management education and training event, PowerUp 2015, October 7-9 in Indianapolis.