Why Surgical Notes Acquired Zulu Health: Q&A With Randy Bishop
In early August, Surgical Notes announced it had acquired Zulu Health, a revenue cycle management (RCM) provider with a specialized focus on the ambulatory surgery center (ASC) market. In this Q&A, Randy Bishop, President and Chief Executive Officer for Surgical Notes, explains why Surgical Notes acquired Zulu Health and what the acquisition means for clients.
Q: What interested Surgical Notes in acquiring Zulu Health?
Randy Bishop: Zulu Health is a pure-play ASC RCM business that perfectly aligns with our company. Zulu Health has a strong management team, a strong executive leader in ASC industry and RCM veteran Ken Bulow, and a strong financial profile. The company also represents a great cultural fit with Surgical Notes.
Q: Why was now the time right for Surgical Notes to acquire Zulu Health?
RB: We recapped Surgical Notes in mid-2019. Through the recap, we joined forces with a strong financial partner, CapStreet. Our goal is to further establish Surgical Notes as a best-in-class healthcare RCM company focused on ASCs. We are achieving that goal by building out our leadership and management teams, growing our revenues organically and through strategic acquisitions, and making sure Surgical Notes always provides a great work environment for our teammates. The addition of Zulu helps us move closer to accomplishing our goal.
Zulu was Surgical Notes’ second acquisition of 2021. We will continue to look for attractive businesses that fit well with our growth strategy.
Q: How does the acquisition of Zulu Health support and advance the Surgical Notes mission?
RB: Management of the ASC revenue cycle is becoming more complicated with the ongoing addition of new procedures and more complex payment methodologies. Our expert teams and advanced proprietary technology differentiate Surgical Notes. In combination, we can better serve ASCs by ensuring proper reimbursement and delivering well-informed analytics and reporting. Adding Zulu Health not only builds scale for our technology component, but we also add a company with the same values and culture as Surgical Notes.
Q: What does Ken Bulow, Zulu Health's President and CEO and now Surgical Notes' EVP of Operations, bring to the company?
RB: Ken is a significant addition to Surgical Notes, and he will be a key component of our executive leadership team. He brings more than 20 years of experience in revenue cycle management, with particularly strong ASC experience. That experience includes his work with a well-respected ASC management company, one of the largest providers of outpatient surgery. Through his many years in the ASC industry, he has established numerous connections that will also be of value to Surgical Notes as we continue growing. He is a great leader of people, and we are fortunate to have him on our team.
His impressive management team includes Rachael Powell and Carla Reese, who will also be joining Surgical Notes. They will be valuable additions to our company and made Zulu Health even more attractive for us.
Q: How will clients benefit from the acquisition?
RB: By expanding our talent and adding to our depth of knowledge, we will better deliver the quality services that enhance the financial performance of our clients.
We couldn't be happier about adding Zulu Health and its team. It's a great win for Surgical Notes and our clients.