Two major health care financial transactions processors will combine as Minneapolis-based ABILITY Networks will acquire Stamford, Conn.-based IVANs for an undisclosed sum.
Both companies are long-established revenue cycle conduits between providers and insurers. ABILITY specializes in Medicare and Medicaid transactions processing, and also can provide all-payer clearinghouse services to providers. IVANS specializes in Medicare transactions and has deeper connectivity with those payers.
IVANS also conducts transactions processing for property and casualty insurers, and ABILITY will sell that business to Applied Systems Inc., a veteran P&C vendor. The IVANS acquisition will close within 90 days, with the combined company headquartered in Minneapolis, led by ABILITY CEO Mark Briggs, and operating under the ABILITY Networks name.
The companies say combining their assets will accelerate and expand delivery of products and services.
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