CorroHealth Completes Acquisition of Navient's RCM Xtend in Healthcare
CorroHealth, a healthcare know-how and income cycle administration (RCM) providers firm, has accomplished the acquisition of Navient's Xtend Healthcare RCM enterprise.
This strategic transfer is predicted to boost CorroHealth’s capabilities in RCM consulting and know-how.
The transaction was initially agreed on August 13, 2024.
In response to the preliminary announcement, the deal was valued at $365 million in money, topic to sure customary changes.
As of June 30, 2024, the e book worth of the acquired healthcare companies was roughly $136 million, together with $113 million of goodwill, together with acquired intangible belongings, Navient's earlier announcement stated.
Following the completion of this acquisition, CorroHealth will proceed to function Xtend from its current workplaces in Hendersonville, Tennessee, USA.
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Moreover, greater than 925 Xtend workers have now joined the CorroHealth group, increasing the corporate’s workforce and experience.
Mike Morris, President of Xtend Healthcare, stated: “All the Xtend group is worked up to hitch a world-class chief in income cycle administration like CorroHealth.
“As a part of the CorroHealth group, we now have a broader vary of capabilities and automation instruments to supply our prospects.”
This newest growth strengthens CorroHealth’s place available in the market whereas concurrently establishing the corporate as a complete supplier of medical and monetary options.
The acquisition additionally expands the scope of the corporate’s current RCM providing and introduces new affected person engagement capabilities, together with a multichannel affected person communications service, a element beforehand lacking from the service providing.
CorroHealth CEO Pat Leonard stated: “It is a important step ahead for CorroHealth and for our prospects. Including the proficient and educated Xtend employees to the clinically led CorroHealth group provides a robust new layer of monetary safety for our prospects.
“These new providers will present extra aid to our purchasers and permit them to give attention to delivering high-quality healthcare.”
