MEDNAX, a national health solutions partner, has completed its previously disclosed acquisition of Cardon Outreach, a provider of third-party eligibility and other revenue cycle management services for hospitals, for $400 million.
The definitive agreement to acquire Cardon Outreach was signed in June.
As part of the acquisition, Cardon Outreach will become a wholly owned subsidiary of MedData, a MEDNAX company.
“We believe the addition of Cardon Outreach significantly advances the strategic development of our management services capability,” said Roger Medel, chief executive officer of MEDNAX.
“Our hospital partners face numerous challenges in the evolving healthcare environment, many of which relate to the dramatic expansion of Medicaid coverage across the country and the increasing financial responsibility placed on the shoulders of patients.
“We believe the solutions we can provide, through an integrated management-services offering, directly address these challenges. Additionally, we believe that the combination of MedData and Cardon Outreach, complemented by our existing hospital relationships, can provide us with the opportunity for significant future growth through cross-selling of our diverse solutions.”
MEDNAX, US, Healthcare, Risk management, Cardon Outreach, MedData, M&A