Audax and Parthenon completed the investment in Elevate.

Audax and Parthenon, the private equity firms, completed the investment in Elevate, a provider of front-end eligibility and enrollment and back-end revenue cycle management. Financial terms were not disclosed. "We are thrilled to partner with the Audax and Parthenon teams as we move into this next chapter in Elevate’s evolution. Both firms bring deep experience in building healthcare businesses, and we are excited by the alignment in the go-forward strategic vision for Elevate. We look forward to pursuing innovative ways to deliver more value-added capabilities and support our clients as they navigate an ever-changing market environment," Mike Shea, CEO Elevate.