Omega Healthcare, a provider of outsourced revenue cycle management and other healthcare support services, has announced the acquisition of himagine Solutions, a St. Louis, MO-based provider of medical coding and registry services.
The transaction expands the service capabilities and geographical footprint of both companies, enhancing the ability to service clients globally, according to a statement made by company.
“Through this acquisition, Omega Healthcare will be able to expand both its global delivery model and its clinical services portfolio. himagine’s U.S. delivery capabilities strengthen Omega’s ability to support clients with a more integrated end to end solution. Omega also gains himagine’s expertise in Clinical Documentation Improvement (CDI), coding audits, and chart abstraction for medical registries including the U.S. cancer and trauma registries,” it added.
himagine benefits from additions to its capabilities including Omega’s end-to-end revenue cycle management and patient interaction services, as well as access to Omega’s analytics and automation offerings.
This acquisition is part of Omega’s growth strategy, supported by the company’s investors, Goldman Sachs Merchant Banking and Everstone Group.
“This acquisition is a natural extension of our ongoing efforts to provide clients with end-to-end RCM solutions and enhanced clinical capabilities which are now driven by Value-Based Payment models,” said Gopi Natarajan, CEO of Omega Healthcare. “This is the next step on a journey to continue innovating in our space and maintain our leadership status.”
“Joining forces with himagine equips us with key new clinical abilities, a truly global delivery model with larger stateside resources, and a bigger pool of talent for serving client needs,” said Anurag Mehta, President of Omega Healthcare
Dr. Guruvayurappan PV, Chief Human Resource Officer, Omega Healthcare, said, “The himagine portfolio of services will further strengthen Omega Healthcare’s position as a true leader in the RCM industry. The acquisition will ensure end-to-end services offered to the clients, increasing the efficiency of health information management needs and will generate numerous job opportunities. With this, we also look at further enhancing the current skills in India and help the organisation expand into new service lines. The acquisition will help us contribute to the value chain and deliver higher-value services.”
“Teaming with Omega offers major services and scalability benefits that will help us build even stronger relationships with our client base,” said Michael DiMarco, CEO of himagine Solutions. “With almost 18,000 employees worldwide, a broad suite of RCM services, and the ability to leverage Omega’s proprietary technology solutions, we are in an ideal position to help clients simplify their health information management needs.”
Both companies will continue to operate under their existing brands. Gopi Natarajan would continue to serve as the CEO of the combined entity, Anurag Mehta continues in his role as President, and Michael DiMarco will assist with the integration of the two companies, then focus on driving revenue growth of the combined provider business unit as the Chief Revenue Officer.
The transaction closed on March 10, 2021. Financial details were not disclosed.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.