Nashville-based revenue cycle management company Emdeon has signed a definitive agreement to acquire Santa Ana, California-based health care tech company Capario for $115 million.
Through the deal, Emdeon will acquire Capario's cloud-based platform, which enables health care providers to check eligibility in real time, as well as submit and track claims, manage rejections and accept payments at the point of care.
"Our customers' needs for revenue cycle management solutions are evolving rapidly as reimbursement models change to reflect an ever more outcomes-oriented and patient-centric health care system," Neil de Crescenzo (pictured), Emdeon president and CEO, said in a release. "With our combined capabilities, Capario will enhance Emdeon's ability to provide a superior data-driven, patient-centric view of administrative elements of the care process, helping to improve outcomes and reduce costs."
Emdeon will acquire the company, principally owned by Marlin Equity Partners, for $115 million in cash. The deal is expected to close in the third quarter.
"We are excited about joining the Emdeon family," said Jim Riley, president and CEO of Capario. "Adding our capabilities to Emdeon's solution portfolio and working together across many segments of the healthcare ecosystem will enhance our growth potential and positive market momentum.