Career Step, an online provider of career-focused education and professional training, has acquired Panacea Healthcare Solution's revenue capture and coding and documentation divisions.
Here are six things to know.
1. Panacea, a Career Step company, offers coding, compliance, financial consulting and IT to healthcare organizations and providers. The company is based in St. Paul, Minn., with additional offices in Shrewsbury, N.J., and Wesley Chapel, Fla.
2. With the recent acquisition, Career Step and Panacea will now offer end-to-end education, consulting and data analytics solutions to the revenue cycle and healthcare financial marketplaces, according to a news release.
3. Career Step and Panacea said the acquisition aims to tie Career Step's educational offerings to information available through consulting and data analytics. They said the acquisition also brings more than 25 industry experts in-house, which will "augment Career Step's professional training division and enable faster development and delivery of educational products."
4. Per the terms of the acquisition, Career Step will run the Panacea business as an independent brand and entity within Career Step's professional training division, the release states.
5. Additionally, Frederick Stodolak, CEO of Panacea, and others on the current Panacea management team will continue as shareholders.
6. Career Step and Panacea completed the transaction Feb. 1.