Pine Tree Equity Partners
Capital for Samll Companies

Pine Tree Expands Annuity Health with 3rd Acquisition

Pine Tree Equity III, LP ("Pine Tree Equity"), a private equity firm based in Miami, FL, is pleased to announce that Annuity Health Holdings, LLC ("Annuity") has acquired Arcadia Recovery Bureau, LLC ("Arcadia") in March 2020. The Company, founded in 1973 and headquartered in Reading, PA, is a leading provider of revenue cycle management services. For additional information, please visit

Arcadia is a leading provider of revenue cycle management services focused on self-pay collections, bad debt recovery and insurance claims resolution services for hospitals, large physician groups and other healthcare providers. Arcadia’s focus is on patient pay collections, providing its customers with first party, early out collections as well as third party bad debt collections.

Arcadia represents Annuity’s third add-on acquisition and significantly expands the company’s customer base and senior management team. Arcadia marks Pine Tree Equity’s 75th investment since inception in 2007 (i.e., 26 platform and 49 add-on acquisitions). We are pleased to offer traditional referral fees for a closed transaction based on a signed fee agreement. For additional information, please call Roberto Canto at (305) 808-9820.

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Arcadia Recovery Bureau


Pine Tree Equity

Pine Tree Equity, based in Miami, FL, is a private equity firm with committed equity capital focused on the investment in and expansion of small capitalization companies – with revenue of $10.0 million to $50.0 million – in partnership with management.  For additional information, please visit or please call Jeff Settembrino at (305) 808-9820.

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