HealthPort to merge with IOD
In a merger of two major health information management companies, HealthPort, which specializes in information access management and compliance, will join forces with IOD, which offers services for release of information, coding and more.
Officials say the proposed deal would create a new company with combined revenues of more than $450 million and 6,000 professionals, serving some 18,000 healthcare organizations nationwide.
As medical records are digitized and the healthcare industry evolves, officials say the new combined company would offer technology to enable secure access to an array of clinical data for stakeholders such as patients, providers, payers, government agencies and more.
[See also: HealthPort, Universata merge]
The company will continue to offer a full range of information services for healthcare providers, including release-of-information services and technology; audit management services and technology; government audit services and technology; clinical data coding and abstracting; document conversion and health information consulting and training.
"This merger combines the strengths and capabilities of two of the industry's leaders, creating a wider selection of higher-quality clinical data services and a platform for growth," added Mike Labedz, president and CEO of HealthPort, in a press statement.
HealthPort and IOD will continue to provide their current solutions and service to customers as the integration process proceeds, officials say. In the months ahead, the company will introduce new services to help customers meet challenges posed by electronic health records, meaningful use, ICD-10 and evolving reimbursement models.
"Bringing together IOD and HealthPort will create the scale and resources to improve what we do today and help us accelerate innovation and serve customers in new ways," added George Abatjoglou, CEO of IOD.
New Mountain Capital has invested an undisclosed sum to facilitate the deal.
"The merger of HealthPort and IOD creates a new company that will lead the industry and set new standards by improving quality and efficiency for the healthcare system," said New Mountain Managing Director Matt Holt, in a statement. "We believe the company will play a critical role in the evolving healthcare technology landscape."