Navient is selling its revenue cycle management company Xtend Healthcare to CorroHealth.
CorroHealth is acquiring Xtend Healthcare for a cash consideration of $365 million, subject to customary adjustments, according to an Aug. 13 Navient news release. The transaction is expected to close in September.
"We are very pleased to bring the Xtend team and technology to CorroHealth," CEO Pat Leonard said in the release. "This will allow us to offer an even more fully rounded suite of solutions to our customers, further strengthening their financial position, and empowering them to focus on providing high-quality health care."
Xtend Healthcare is headquartered in Hendersonville, Tenn., according to the release. As part of the agreement CorroHealth will continue to operate Xtend from its Hendersonville offices. About 950 Xtend employees are joining CorroHealth.
"The Xtend team is excited to join a world-class health technology leader like CorroHealth," Xtend CEO Mike Morris said in the release. "As part of the CorroHealth team, we will have a broader scope of capabilities and automation tools to offer our customers."