CorroHealth Completes Acquisition of Navient's RCM Xtend in Healthcare
CorroHealth, a healthcare expertise and income cycle administration (RCM) companies firm, has accomplished the acquisition of Navient's Xtend Healthcare RCM enterprise.
This strategic transfer is predicted to reinforce CorroHealth’s capabilities in RCM consulting and expertise.
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 property, Navient's earlier announcement stated.
Following the completion of this acquisition, CorroHealth will proceed to function Xtend from its present workplaces in Hendersonville, Tennessee, USA.
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Moreover, greater than 925 Xtend staff have now joined the CorroHealth group, increasing the corporate’s workforce and experience.
Mike Morris, President of Xtend Healthcare, stated: “Your complete Xtend group is happy to affix 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 clients.”
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 present RCM providing and introduces new affected person engagement capabilities, together with a multichannel affected person communications service, a part beforehand lacking from the service providing.
CorroHealth CEO Pat Leonard stated: “It is a important step ahead for CorroHealth and for our clients. Including the proficient and educated Xtend workers to the clinically led CorroHealth group provides a strong new layer of monetary safety for our clients.
“These new companies will present extra aid to our shoppers and permit them to give attention to delivering high-quality healthcare.”
