PMG Partners Acquires MEDIBIS
MEDIBIS joins PMG Partners to expand data analysis and
benchmarking within ASC industry
LOS ANGELES, Calif., March 26, 2008 –
PMG Partners, LLC announced today it acquired Oklahoma City,
OK-based MEDIBIS, a provider of internet-based advanced reporting,
analysis and benchmarking software designed for ambulatory
surgery centers (ASCs). PMG
Partners, a portfolio company of Bertram Capital, is the nation’s
leading provider of medical billing and collection services
for ASCs and specialty physicians. Financial terms of
the MEDIBIS deal were not disclosed.
“MEDIBIS’ technology solution and client base
are a perfect fit with PMG,” said Ken Drazan, M.D., Chairman
of PMG. “MEDIBIS’ product offerings allow
PMG to offer ASCs benchmarking and analysis tools to optimize
their operations and profitability.” Dr. Drazan added
that, “We are strongly committed to continuing to support
MEDIBIS’ partners and customers and we will focus on
the enhancement of those relationships.”
“The acquisition of MEDIBIS has uniquely positioned
PMG in the ASC market,” said Judi Irving, PMG’s
CEO. “PMG, the largest provider of ASC billing
and collection services, coupled with MEDIBIS, will create
an unrivaled treasure trove of data relating to practice patterns,
costs, billing and reimbursement data. Our ability to
provide ASC performance analysis across our client base is
a key component of our commitment to serving the ASC market.”
“The alignment of MEDIBIS and PMG is a first of its
kind in our industry,” said Roy Georgia, Founder and
CEO of MEDIBIS. “This unique opportunity
brings together years of advanced technology solutions with
the nation’s premier provider of billing services. We
look forward to expanding PMG’s offerings and delivering
a whole new level of value-driven solutions to our customers
and the ASC market.” Mr. Georgia and his management
team will continue their employment with the company.
About PMG Partners, LLC:
Located in Los Angeles, CA, PMG Partners is the largest provider
of technology-enabled revenue cycle services, including coding,
billing, and collections, to ambulatory surgery centers and
specialty physicians. It serves more than 400 facilities
and physician groups in 20 states. www.pmgpartners.net
About MEDIBIS:
Located in Oklahoma City, OK, MEDIBIS provides customized,
Web-based business intelligence applications and specialized
technology services exclusively to the outpatient healthcare
marketplace. MEDIBIS’ unique Application Server Provider
(ASP) solution enables healthcare facilities to improve management
decisions regarding revenue optimization, cost containment,
and clinical outcomes. www.medibis.com
About Bertram Capital:
Located in Palo Alto, California, Bertram Capital Management
is a private equity investment firm with $350 million in
capital under management. Bertram Capital is committed
to providing meaningful operational and strategic resources
to facilitate rapid growth in revenue and profitability. Bertram
Capital’s mission is to build value for equity holders,
employees, customers, and partners by helping already profitable
companies realize their full potential. www.bertramcapital.com
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