PE-Backed Matrix Medical Acquires Ascender

Matrix Medical Network, an 11-year-old,  Scottsdale, Ariz.-based company that provides high-risk member management services to health plans and medical groups, has acquired Ascender, a San Diego-based company that makes a healthcare analytics suite of software products. The terms of the all-cash deal were not disclosed.

PRESS RELEASE:

SCOTTSDALE, Ariz., Aug 27, 2012 (BUSINESS WIRE) — Matrix Medical Network, a national leader in prospective medical assessment services, announced today that it has acquired Ascender, a leading provider of integrated, advanced information technology to healthcare clients, in an all-cash transaction. Matrix Medical is owned by Welsh, Carson, Anderson & Stowe, a private equity firm exclusively focused on information/business services and healthcare. Terms of the transaction were not announced.

Matrix Medical provides prospective medical assessments through its nationwide network of employee nurse practitioners. Matrix Medical and Ascender have had a working relationship since March 2009, and Ascender provides several key strategic functions for Matrix Medical including Medicare Hierarchical Condition (HCC) stratification, suspect member identification for assessments, and assessment financial impact and ROI studies.

Established in 2004, Ascender provides integrated, advanced information technology to its healthcare organization clients. Ascender’s advanced technology suite of applications helps provider organizations report and manage their clinical measures. This includes warehousing data, creating analytics to measure and improve performance, and improving patient care. Ascender has approximately 20 employees working out of its San Diego, Calif., headquarters.

“The strategic combination of Ascender and Matrix will increase the range of services and solutions that we can provide to our clients,” said Randy Dobbs, CEO of Matrix Medical Network. “Ascender also represents an area of the Matrix business where we have previously relied on outside contracted services. This acquisition brings these critical data analytic and management functions in house.”

About Matrix Medical Network

Matrix Medical Network, a Welsh, Carson, Anderson & Stowe company headquartered in Scottsdale, Ariz., provides in-person prospective medical assessment services that help medical plan clients manage costs and provide high-quality medical care. Having pioneered the use of a national network of highly trained employee Nurse Practitioners to conduct medical assessments in plan member homes or nursing facilities, Matrix Medical Network is dedicated to improving the health and lives of elderly Americans; helping clients efficiently, accurately, and securely collect plan member information; and establishing new standards in health care quality, efficiency, and effectiveness. For more information and career opportunities, visit www.matrixhealth.net .

About Ascender

Established in 2004, Ascender provides integrated, advanced information technology to its healthcare organization clients. Ascender’s advanced technology suite of applications helps provider organizations report and manage their clinical measures. This includes warehousing data, creating analytics to measure and improve performance, and improving patient care. Ascender has approximately 20 employees working out of its San Diego, Calif., headquarters.

SOURCE: Matrix Medical Network

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