Misys Healthcare Buys Healthcare Claims Transactions Firm in $49M Deal
Posted February 1, 2006 12:33 p.m. EST
RALEIGH, NC — In a cash transaction valued at $49 million, Misys Healthcare has acquired Payerpath, a healthcare claim transactions firm.
Payerpath is based in Richmond, VA.
As part of the deal, Misys Healthcare said it will combine M. Transaction Service, its own claims clearinghouse, with Payerpath. The combined company will continue to be based in Richmond and operate under the name Payerpath.
Payerpath processes payments through the Internet. It handles some 50 million claims a year. M. Transaction Services handles more than 420 million.
According to Misys Healthcare, the combined company will be able to offer more services.
"Payerpath's business philosophy aligns well with ours at Misys Healthcare Systems. We both want to help healthcare professionals realize faster and more complete insurance reimbursements at a cost-effective price," said Tom Skelton, chief executive officer of Misys Healthcare, in a statement. "Payerpath has established itself as one of the nation's leaders in handling Internet-based healthcare claim transactions and currently processes more web-based claims transactions than any other company."