Health information management companies HealthPort and IOD have agreed to combine with HealthPort apparently the surviving entity.
The companies are calling the agreement a merger, but it is financed with an investment from equity firm New Mountain Capital, which bought HealthPort in late 2014. Financial terms were not disclosed. Spokespersons for HealthPort, IOD and New Mountain Capital did not respond to requests for additional information.
HealthPort is considerably larger than IOD. In October 2014, HealthPort was processing more than 20 million records annually and served more than 15,000 customers. Together, HealthPort and IOD will have combined revenue of more than $450 million with 6,000 employees serving 18,000 organizations comprising providers, insurers, patients, law firms and government agencies. The transaction is expected to close during the second quarter.
Services and technologies offered by the combined entity include processing release of information requests, audit management, clinical data coding and abstraction, document conversion, and health information consulting and training.
In coming months, the company will offer new products, details of which were not announced.
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