What You Should Know:
– MTBC acquires Meridian Medical Management, a former GE Healthcare IT company to enhance its cloud-based healthcare IT solutions and services.
– Meridian Medical Management has been providing revenue cycle management solutions to the ambulatory medical practice management marketplace for over 20 years.
MTBC, Inc., a Somerset, NJ-based provider of cloud-based healthcare IT solutions and services announced it has acquired Meridian Medical Management (“Meridian”), a former GE Healthcare IT company that delivers advanced healthcare information technology solutions and services to thousands of healthcare providers nationwide.
“Meridian is our largest acquisition to date,” said Stephen Snyder, CEO of MTBC. “We expect to provide increased revenue guidance as part of our second quarter investors call as a result of this transaction. We also believe that Meridian’s team, digital assets, and customer base will help further accelerate our growth and margin expansion during 2021 and beyond.”
Meridian’s Robotic Process Automation (RPA) solution leverages digital assistants called “Microbots” that replace mundane, repetitive processes, allowing organization scalability and increased production in a HIPAA-compliant environment. Meridian’s digital assets also include cloud-based business intelligence software, which provides sophisticated analysis and reporting capabilities to large, complex, multi-specialty physician groups, prestigious healthcare systems, and national healthcare IT vendors. These technology solutions are further extended by Meridian’s leading revenue cycle management and electronic health records solutions.
“Meridian’s technology will further elevate MTBC’s robust solutions with additional tools to help our customers scale and increase profitability,” said A. Hadi Chaudhry, President of MTBC. “We’re excited to welcome our new team members and customers to the MTBC family of companies.”
Meridian Billing Management, Co., a Vermont corporation, was known as GE Healthcare Strategic Sourcing Corp. prior to being acquired by Gores Meridian Medical Holdings, LLC in 2013. Meridian employs more than 200 team members and maintains offices throughout the U.S., including Hartford, Connecticut, Seattle, Washington, Rutherford, New Jersey, Reading, Pennsylvania, and Hutchinson, Kansas.
MTBC acquired Meridian Billing Management and its affiliate, Origin Healthcare Solutions and subsidiaries (together, “Meridian Medical Management”), on June 16, 2020, through the closing of a stock purchase agreement. Financial details of the acquisition were not disclosed.