Medsphere Systems Corp., a Carlsbad, Calif.-based health IT solutions provider, and Stockell Healthcare Systems, a Chesterfield, Mo.-based revenue cycle management provider, agreed to merge.
Here are five things to know about the transaction.
1. As part of the transaction, Stockell will become a Medsphere division, the companies said via news release. Stockell will keep its name.
2. The transaction expands the relationship between Medsphere and Stockell, as the companies have collaborated before.
3. Medsphere President and CEO Irv Lichtenwald said, "We've collaborated several times on previous implementations, so this really seemed like a natural and very beneficial evolution of the relationship."
4. He added, "The integration of [Medsphere's] OpenVista [EHR] clinicals and [Stockell's] InsightCS revenue cycle has already created a system that dramatically improves operational efficiency and the bottom line for our clients. We're confident that subscription-based pricing and improved billing through an integrated RCM system will mitigate the financial impact of a large healthcare IT purchase."
5. The companies expect the transaction to close later in October.
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