ABEO Inc., a provider of anesthesia-specific revenue cycle management services, has acquired Pasadena Billing Associates, a provider of medical billing and practice management companies in California. No financial terms were disclosed. ABEO is a portfolio company of Parthenon Capital.
ABEO, Inc. (“ABEO”), a Parthenon Capital portfolio company, has recently acquired Pasadena Billing Associates located in Pasadena, Orange County and Burbank, California. Pasadena Billing Associates was founded in 1978 by Laurie Zeh and her husband, Dr. Dale Zeh. The company began as a billing service for Dale Zeh’s medical practice. Since then, the company has grown to become one of the largest billing and practice management companies in California. ABEO is the second largest anesthesia specific revenue cycle management services company in the United States.
Dale Zeh, Jr., currently the president of Pasadena Billing Associates, will continue in that role as president of the new West Coast division. He said, “We are extremely excited to partner with Professional Management Group, Summit HMR and MedSuite under the ABEO umbrella. Individually, our companies represent the ‘best of breed’ in anesthesia business support services as we share best practices and take advantage of technological excellence. I am confident that we will be able to deliver an even higher level of service to our clients.”
Dr. Zeh, who will continue as a member of ABEO’s West Coast management team said, “I believe that the ABEO alliance is the natural next step in helping deliver even more value to our clients.”
ABEO Chairman and CEO Mark Smith said, “During the past several years, Pasadena Billing Associates has grown to become one of the most respected billing and practice-management companies in California. I continue to be impressed with how similar Pasadena Billing Associates’ passion and expertise is with that of ABEO’s. Merging Pasadena Billing Associates into the ABEO family complements our strategic objective in becoming the nation’s premier provider of anesthesia-specific billing and practice-management services.”
About ABEO, Inc.
In late 2007, three companies with deep roots in the anesthesia business community merged to form ABEO (Anesthesia Business Enterprises Organization). These three founding entities–Summit HMR of Fort Worth, Texas, Professional Management Group (PMG) of Salt Lake City, Utah, and MedSuite of Cape Coral, Florida—each became divisions within the ABEO family
ABEO is now the nation’s second largest anesthesia billing and practice management firm with a clientele that extends from coast to coast. In spite of ABEO’s broad base of clients, the company has earned a reputation for providing an extremely high level of prompt, personal service and individualized attention to each of its clients.
For more information about ABEO, please visit www.abeomed.com.