Surgical Notes Expands RCM Operations; Acquires Revenue Cycle Management Provider Zulu Health

August 6, 2021

Deal brings together teams with extensive ASC expertise to enhance quality of RCM services

DALLAS –Surgical Notes, a nationwide provider of revenue cycle services and solutions for the ambulatory surgery center (ASC) and surgical hospital markets, announces the acquisition of Zulu Health, a revenue cycle management (RCM) provider with a specialized focus on the ASC market.

Zulu Health, based in Los Angeles, California, provides RCM services, predominantly to surgery centers, across the United States. Founded in 2015, the company’s customized solutions include revenue cycle outsourcing and consulting, coding and compliance, and accounts receivable (AR) follow-up. Zulu Health is supported by a quality-driven team committed to client satisfaction, operational excellence, and maximizing financial success for partner facilities.

Ken Bulow, Zulu Health’s President and CEO and a veteran of the ASC industry, will join Surgical Notes as its new EVP of Operations. Also joining the Surgical Notes management team will be Rachael Powell, Zulu Health’s Vice President Revenue Cycle, and Carla Reese, Zulu Health’s Vice President Operations.

“We could not have found a better home for Zulu Health than with Surgical Notes,” said Bulow. “We’re exceptionally proud of our work over these past six years, particularly our nearly 100% client retention rate. Surgical Notes has established itself as a leading service provider to ASCs nationwide. We look forward to our experience and expertise helping to further strengthen Surgical Notes’ position in the market. The joining of our two skilled teams will undoubtedly translate to higher quality services and improved performance for our existing and future clients.”

“I am so pleased to have Ken and the entire Zulu Health team join the Surgical Notes family,” said Randy Bishop, President and Chief Executive Officer for Surgical Notes. “Ken’s decades-long tenure leading RCM teams and company operations will be invaluable as we continue to grow and mature the Surgical Notes brand. We are excited for this addition to our capabilities.”

Bishop continued, “Combining the operations of Surgical Notes and Zulu adds to our position as one of the leading RCM services organizations in the industry. We add an impressive executive leader and talented team of professionals that will help us continue growing our business. Today’s news accelerates Surgical Notes ability to deliver high-quality RCM solutions that allow ASCs and other provider organizations to spend more time focused on delivering exceptional patient care. This acquisition is truly a win for both companies and our customers.”

Surgical Notes is a portfolio company of The Capstreet Group, a lower middle-market private equity firm, based in Texas.

About Surgical Notes, Inc.

Surgical Notes is a healthcare IT solutions company dedicated to developing cutting-edge, innovative products and services for the ambulatory surgery center industry. The largest management companies and over 20,000 healthcare providers trust Surgical Notes’ revenue cycle management solutions and services to enhance the financial strength and performance of their ASCs. To find out more about Surgical Notes and its ASC revenue cycle solutions, visit

About The Capstreet Group

 The Capstreet Group is a Houston, Texas based private equity firm that invests in lower middle market companies. Capstreet targets companies focused on industrial products and distribution, software and tech-enabled business services. Capstreet’s approach is to partner with excellent management teams to build out corporate infrastructure, accelerate growth and profitability, and create long term sustainable businesses. For more information, visit The Capstreet Group website,