Dive Brief:
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Healthcare revenue cycle management technology companies Navicure and ZirMed announced on Thursday that they have signed a definitive agreement to combine companies.
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The two companies said the merger will “provide hospitals, health systems and ambulatory services organizations including physician practices with a comprehensive suite of analytics-driven solutions proven to help improve financial performance.”
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The two companies did not disclose the financial terms.
Dive Insight:
The merger, which the two companies said is expected to close in Q4 of 2017, brings together two large players in provider and payer revenue cycle management services. The companies work with more than 400,000 providers and healthcare organizations.
Navicure is a medical claims management, patient payment and data analytics company and ZirMed uses predictive analytics technology to help healthcare organizations capture more revenue. The merged company will “further accelerate innovation in the industry by leveraging cloud-based solutions” for providers. The merger also gives them something all healthcare companies desire — scale.
Jim Denny, president and CEO of Navicure, said the merger combines “two double-digit growth healthcare revenue cycle technology providers."
The two companies will keep their existing locations and teams in Duluth, Ga., Louisville, Ky., and Chicago. They will operate under both brands during the transition period.