MTBC, a provider of proprietary, web-based EHRs, practice management and mHealth solutions has acquired the assets of MediGain, a Plano, TX-based revenue cycle management company. The acquisition of MediGain assets includes customer accounts, intellectual property, and offshore operations in India and Sri Lanka.
Founded in 2002, MediGain provides revenue cycle management solutions and analytics for the healthcare industry in the United States and internationally. The company offers services in the areas of billing and reimbursement, practice management system, eligibility and pre-certification, credentialing, denials management, revenue cycle analysis, and coding audit aspects. It serves physician’s offices, ambulatory surgery centers, and hospitals. MediGain, LLC has strategic alliances with Nextech, HSTpathways, AdvancedMD, InstaMed, MedLanding, Allscripts, and GE Healthcare.
“We are very pleased to have acquired MediGain’s assets at a compelling valuation that represents a significant discount as compared to the industry norm of at least one times annualized revenues for a company of MediGain’s size.” He continued, “Moreover, we believe that our newly acquired business will contribute to our positive Adjusted EBITDA by the end Q1 2017.”