MedData has acquired Data Management (DMI), a provider of physician billing services to pathologists and emergency departments. MedData is a portfolio company of Baird Capital Partners, the US-based buyout fund of Baird Private Equity (BPE). DMI was a portfolio company of Lakeshore Capital Partners.
MedData, Inc., a leading provider of medical billing services, announced today the acquisition of Peoria, Ill.-based Data Management, Inc. (DMI), a leading provider of physician billing services to pathologists and emergency departments.
The acquisition of DMI adds pathology billing to MedData’s current billing specialties which include emergency medicine, hospitalists and wound care. During its three decades in operation, MedData has handled billing for nearly 100 million patient visits across various medical specialties, and today processes in excess of $1.8 billion in annual charges for its clients.
“This acquisition affords MedData the opportunity to combine our scalable, strong, national leadership position in medical billing with DMI’s expertise in pathology billing. Our emergency medicine- and hospitalist-focused headquarters will remain in Brecksville, Ohio, while our new pathology billing office will be at DMI’s current site in Peoria, Ill. We are looking forward to expanding DMI’s pathology billing to a national platform,” explained Douglas S. Thompson, MedData’s chief executive officer.
“Our goal is to continue to align with companies like DMI that complement our offering and allow us to extend our presence across other chosen specialties,” Thompson said. “Most importantly, we will ensure that both our current clients as well as new ones continue to see outstanding results.”
The acquisition is expected to be fully integrated by year-end 2011. Pathology operations will remain in Peoria, which will serve as the hub for MedData’s new pathology billing business.
Brecksville, Ohio-based MedData is one of the nation’s leading providers of a range of medical billing services including, among others, billing, coding, collections and revenue cycle management. For more than three decades, the company has been providing innovative billing solutions to the medical community. Annually, the company handles billing for 5.5 million patient encounters across various medical specialties. MedData currently provides services to more than 2,000 physicians at 150 facilities across 35 states from its headquarters as well as offices in Roseville, Calif. and Bellevue, Wash.