Revenue cycle management company Panacea Healthcare Solutions is acquiring two companies that will expand its reach to more than 600 hospitals, health systems, physician practices and accountable care organizations.
The revenue integrity and compliance software provider is acquiring Holliday & Associates and First Healthcare Compliance, according to an Aug. 23 news release from private equity firm Firmament. The acquisitions were made possible through a growth capital investment in Panacea by Firmament.
"With the acquisition of Holliday & Associates, we are excited that our customers will benefit from access to a comprehensive suite of chargemaster software tools from a single vendor," Panacea CEO Frederick Stodolak said in the news release. "Furthermore, we look forward to expanding First Healthcare Compliance's popular learning platform to leverage Panacea's expertise in inpatient, outpatient, and physician coding and compliance."
Mr. Stodolak will serve as CEO of the combined company, according to the release.