SimiTree, a provider of specialty revenue cycle management, coding, professional services, and talent management resources for post-acute and behavioral health organizations, announced the acquisition of GreenpointMed, a provider of medical billing and credential service provider to healthcare practices nationwide.
The terms of the acquisition were not disclosed.
Commenting on the acquisition, Mike Freytag, managing principal and Executive VP of SimiTree, said: “We’re excited to bring on board GreenpointMed’s skilled team, with its impressive record of supporting clients in achieving their financial goals.”
The acquisition of GreenpointMed further enhances the level of support SimiTree delivers to clients, expanding billing and debt recovery capabilities and offering behavioral health providers time-saving credentialing services with insurance panels. GreenpointMed has extensive credentialing experience with all insurers, including Medicare and Medicaid, in every state.
“Becoming part of SimiTree offers GreenpointMed the ability to provide greater efficiencies for our customers and gives us the ability to serve a wider population of mental health practices,” said GreenpointMed Founder and President Justin Gaines. “We will now be able to offer SimiTree’s broader clinical, financial, and operational resources while continuing to grow and expand our offerings.”
Greenberg Advisors served as the exclusive M&A advisor to SimiTree.
M&A activity
According to our database, more than 100 medical billing and healthcare credentialing software companies have been acquired to date. More recently, PayrHealth, a medical billing software provider to hospitals and medical practices, acquired Supero Healthcare Solutions, a provider of medical licensing services and credentialing services to healthcare providers. In another deal, SteadyMD, a provider of telehealth healthcare services, acquired BlocHealth, a clinician licensing, credentialing, and payer enrollment solutions, for an undisclosed amount.
