Elation Health, a provider of a collaborative EHR platform that helps primary care providers deliver quality personalized care to patients, announced its strategic acquisition of Lightning MD, a cloud-based medical billing company.
The terms of the acquisition were not disclosed.
Elation Health stated in a news release that the acquisition would further enhance its medical billing solutions and complement its core clinical data platform, providing seamless billing and payer connectivity for its customers.
Commenting on the acquisition news, Pratik Savai, CTO at Elation Health, said: “This acquisition is an important part of our long-term investment strategy to deliver deep value through our primary care platform.”
Pratik Savai added: “Customers across all care settings will continue to benefit from ongoing enhancements to Elation’s core EHR and provider engagement workflows, iOS clinician mobile app and interoperability solutions, as well as front-office and patient experience tools. It really is an exciting time for us and our customers as we deepen our commitment to supporting primary care-led organizations and their patients.”
Commenting on the M&A news, Kelly Schoenfeld, CEO of Lightning MD, said: “Lightning MD was founded on the idea that every healthcare provider deserves to be paid for the services they perform, and every biller deserves an easy way to make that happen.” “We’re excited to join the Elation team and give providers the best software tools available to put the focus back on caring for their patients.”
According to our M&A database, more than 150 medical billing and healthcare revenue cycle management software companies have been acquired to date. More recently, Harris, a provider of information technology solutions, acquired medical billing software company Innovative Medical Management (IMM) for an undisclosed amount. Golden Gate Capital, a private equity investment firm, acquired a controlling stake in Ensemble Health Partners, a provider of revenue cycle management and billing solutions for hospitals, health systems, and physician practices, for $1.2 billion. Med-Metrix, a provider of revenue cycle management solutions to health systems, acquired Armco Partners, a provider of coding and forensic medical billing services to healthcare providers across the spectrum of care. Telstra Health, a provider of medical practice management solutions, acquired a majority stake in PowerHealth, a provider of medical billing and revenue cycle solutions for hospitals in Australia, for $95 million.
Click here to read more about the latest digital health M&A news…
