BY STAFF REPORT
Private equity firm Gores Group has acquired GE Healthcare’s electronic billing and medical records outsourcing unit.
Neither company has given the financial details of the deal. GE’s subsidiary seems to have some similarities with the equity firm’s previous portfolio company Diagnostic Health Corp. Gores sold its stakes in Diagnostic Health last year.
Founded nearly ten years ago, GE Healthcare Strategic Sourcing provides services to some of the most recognized healthcare systems in the United States.
A Dow Jones report said the outsourcing unit of GE Healthcare would continue to operate on GE’s technology platform, but under the name Meridian Medical Management.
“We believe this platform offers great opportunity to continue the delivery of quality services using the GE Healthcare technology platform. We look forward to working with management and employees as we build on the services and capabilities as an independent platform,” said Victor C. Otley, Managing Director for The Gores Group.
“GE Healthcare Strategic Sourcing occupies a unique position in the market, with the ability to provide top-tier electronic medical record and outsourced revenue cycle management to very large multispecialty physician groups,” said Rob Gontarek, the company’s newly appointed CEO.