On Tuesday, HealthPort and IOD today an agreement to merge that will create nation’s leading platform for secure clinical data solutions and help position the company for continued innovation and growth.
The proposed merger, facilitated by an investment from New Mountain Capital, will create a new company with combined revenues of more than $450 million and 6,000 professionals serving approximately 18,000 healthcare facilities across the U.S. The combination will significantly benefit all constituents of the healthcare system, including patients, healthcare providers, managed care plans, law firms, government agencies and other entities that are increasingly utilizing clinical data.
The transaction is expected to close in the second quarter of 2015, subject to customary regulatory approvals and closing conditions.
Merger Benefits: Large-scale clinical data platform
The merger will create a leading provider of technology-enabled secure access solutions for confidential medical information and related services and technology. The combined company will be well positioned to create innovative insights and product offerings from widely dispersed clinical data. As medical records become fully digitized and changes in healthcare gain momentum, the company’s broad access to clinical data and its transformation capabilities will help customers create value.
Continuity and improved service for current customers
The combined company will continue to offer a full range of information services for healthcare providers, including:
– Release-of-information (ROI) services and technology solutions
– Audit management services and technology solutions
– Government audit services and technology solutions
– Clinical data coding and abstracting services
– Document conversion services
– Health information consulting and training
Throughout the integration process, HealthPort and IOD will continue to provide their current solutions and service to customers. In the months ahead, the company will introduce new offerings to help customers meet challenges posed by the evolution of their electronic health records (EHR), meaningful use compliance, the impending ICD-10 transition, and evolving reimbursement models.