Navicure is looking to acquire Zirmed Inc
With financial backing from Bain Capital, cloud-based healthcare solution company Navicure is set to potentially acquire Zirmed Inc. Navicure works to enable healthcare organisations increase revenue, accelerate cash flow, and reduce the cost and effort of managing claims, patient billing and payments, and healthcare data analytics across the US.
If the deal goes through, Navicure could be valued at approximately $750 million, Reuters reports. In March, the company appointed a new Chief Growth Officer Kermit Randa, who will support Navicure’s continued revenue and profitability.
“Growth is at the center of our corporate strategy. The creation of the Chief Growth Officer role illustrates our deep commitment to our clients and our partners,” explained Jim Denny, co-founder, president and CEO of Navicure.
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Such acquisitions highlight the growing interest in tech-health, with companies viewing the industry’s long-term growth, which is sent to rapidly rise, with new products and technologies placed within acute settings, such as hospitals and community clinics.
At present, Zirmed supports the IT infrastructure within hospitals, providing the required software and supporting all aspects of revenue cycle management. In order to further streamline its services, the company reduced its staff numbers across its three locations – Chicago, Louisville and Culver City but is seeing continued growth.
Zirmed was even received the top spot on Louisville Business First’s list of the areas largest information technology services companies.