Healthways has snapped up a small Philadelphia-area company that markets population health management software and processes, primarily through physician offices.
Terms of Healthways' deal for Ascentia Health Care Services were not disclosed. The Franklin-based company says the acquisition — which comes eight months after it purchased a St. Louis company  that does similar work with hospitals — will help it reach more physicians across the country as insurers increasingly shift their payment systems to reward improvements.
"We are confident that physicians, health care systems and health plans will recognize the commitment to improving health and well-being with the capabilities created through this combination," CEO Ben Leedle said in a statement .
Among Ascentia's clients is Renaissance Medical Management Co., one of the largest independent practice associations in the Philadelphia area and a pioneer accountable care organization.
Shares of Healthways (Ticker: HWAY ) closed Friday trading at $6.77 and are down slightly year to date.