PMG Buys Medibis

PMG Partners, a provider of medical billing and collection services, has acquired Medibis, an Oklahoma City-based provider of Web-based reporting, analysis and benchmarking software for ambulatory surgery centers. No financial terms were disclosed. PMG is a portfolio company of Bertram Capital.

PRESS RELEASE

PMG Partners, LLC announced today it acquired Oklahoma City, OK-based MEDIBIS, a provider of internet-based advanced reporting, analysis and benchmarking software designed for ambulatory surgery centers (ASCs).  PMG Partners, a portfolio company of Bertram Capital, is the nation's leading provider of medical billing and collection services for ASCs and specialty physicians.  Financial terms of the MEDIBIS deal were not disclosed.

“MEDIBIS' technology solution and client base are a perfect fit with PMG,” said Ken Drazan, M.D., Chairman of PMG.  “MEDIBIS' product offerings allow PMG to offer ASCs benchmarking and analysis tools to optimize their operations and profitability.”  Dr. Drazan added that, “We are strongly committed to continuing to support MEDIBIS' partners and customers and we will focus on the enhancement of those relationships.”

“The acquisition of MEDIBIS has uniquely positioned PMG in the ASC market,” said Judi Irving, PMG's CEO.  “PMG, the largest provider of ASC billing and collection services, coupled with MEDIBIS, will create an unrivaled treasure trove of data relating to practice patterns, costs, billing and reimbursement data.  Our ability to provide ASC performance analysis across our client base is a key component of our commitment to serving the ASC market.”

“The alignment of MEDIBIS and PMG is a first of its kind in our industry,” said Roy Georgia, Founder and CEO of MEDIBIS.   “This unique opportunity brings together years of advanced technology solutions with the nation's premier provider of billing services.  We look forward to expanding PMG's offerings and delivering a whole new level of value-driven solutions to our customers and the ASC market.” Mr. Georgia and his management team will continue their employment with the company.

About PMG Partners, LLC:
Located in Los Angeles, CA, PMG Partners is the largest provider of technology-enabled revenue cycle services, including coding, billing, and collections, to ambulatory surgery centers and specialty physicians.  It serves more than 400 facilities and physician groups in 20 states.  www.pmgpartners.net

About MEDIBIS:
Located in Oklahoma City, OK , MEDIBIS provides customized, Web-based business intelligence applications and specialized technology services exclusively to the outpatient healthcare marketplace. MEDIBIS' unique Application Server Provider (ASP) solution enables healthcare facilities to improve management decisions regarding revenue optimization, cost containment, and clinical outcomes.   www.medibis.com

About Bertram Capital:
Located in Palo Alto, CA , Bertram Capital Management is a private equity investment firm with $350 million in capital under management.  Bertram Capital is committed to providing meaningful operational and strategic resources to facilitate rapid growth in revenue and profitability.  Bertram Capital's mission is to build value for equity holders, employees, customers, and partners by helping already profitable companies realize their full potential.  www.bertramcapital.com