Watertown, Mass.-based athenahealth Inc., which offers outsourced physician billing services and practice management/electronic health records software, will acquire Proxsys LLC, which offers outsourced services and proprietary software to manage the physician referral process.
Under the terms of the acquisition, expected to close during the third quarter of 2011, athenahealth will pay $28 million and up to $8 million more upon achievement of certain business and financial milestones.
Birmingham, Ala.-based Proxsys enables a physician office referring a patient to specialists or a hospital to enter referral information on a portal. Proxsys staff verifies insurance, obtains pre-certification and pre-registers the patient. Information then is transmitted to the specialist office or hospital to print a hard copy and/or enter into its information systems. Following an examination or procedure, results and follow-up information are transmitted to the referring physician.
The acquisition will close the loop on athenahealth's emerging care coordination outsource/I.T. service, called athenaCoordinator. Now in the pilot stage, the service enables the sending of information to referred sites. With Proxsys, athenahealth now has the capability to handle information following treatment from a specialist or hospital.
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