Bailey Southwell & Co – January 28, 2016 – Bailey Southwell & Co., LLC is pleased to announce the completion of the sale of Advanced Medical Reviews, Inc. (AMR), a national peer review provider based in Santa Monica, California that serves the group health, workers’ compensation, pharmacy benefit management, and healthcare provider markets, to ExamWorks Group, Inc. (ExamWorks), a leading provider of independent medical examinations, peer reviews, bill reviews, Medicare compliance services, case management services, and other related services. The transaction was completed at an all cash purchase price of $30 million and additionally includes an earnout for up to $9.8 million of cash payments based on revenue to be generated from a new client over a 24-month period.
BSC acted as the exclusive strategic and financial advisor to AMR.
AMR is recognized as a leading provider of technology-driven peer review services. AMR’s state-of-the-art software platform, including its proprietary operations system, web-based case referral platform, and mobile application, automates key elements of the peer review process, enables same-day workflow customization, and facilitates seamless integration with customer software. Through this acquisition, ExamWorks makes a key investment in enabling technology and core capabilities for the benefit of its customers, furthering the vision of ExamWorks that is predicated on being a full service IME provider.
“After an extensive search, we engaged Bailey Southwell to identify the optimal partner for AMR to continue its growth trajectory,” noted Vince Bianco, CEO of AMR. “They were the right firm for the engagement as their knowledge of the healthcare cost containment industry was invaluable. Ultimately, Bailey Southwell identified the ideal partner, facilitated communication amongst the parties, and helped negotiate mutually beneficial terms for the transaction. The trust and partnership we developed with Bailey Southwell was essential to the success of this transaction.”
About Bailey Southwell & Co., LLC
Bailey Southwell & Co., founded in 2005, is a privately held investment bank with offices in Nashville, Tennessee and St. Louis, Missouri. BSC provides mergers and acquisition and capital raising advisory services to middle market companies. More information about BSC can be found at http://ift.tt/1RPSSmF.
About Advanced Medical Reviews, Inc.
Advanced Medical Reviews delivers services to a diverse group of healthcare and legal organizations, including: health plans, managed care groups, workers compensation and disability clients, TPAs, IPAs, Medical Groups, MSO, Medicare and Medicaid Teams, hospitals, and government entities. AMR commits to providing its clients with a fully integrated, compliant, and cost effective service emphasizing continuous quality improvement, innovation and, client satisfaction. Everyone at AMR believes that every patient deserves quality healthcare. More information about AMR can be found at www.admere.com.
About ExamWorks Group, Inc.
ExamWorks Group is a leading provider of independent medical examinations, peer reviews, bill reviews, Medicare compliance services, case management services, and related services. It helps its clients manage costs and enhance their risk management processes by verifying the validity, nature, cause, and extent of claims, identifying fraud and providing fast, efficient, and quality IME services. ExamWorks is focused on providing clients a national presence while maintaining local service and capabilities they need and expect. More information about ExamWorks can be found at www.examworks.com.
See Company Listings in The Telemedicine Directory
The post ExamWorks Group Acquires Advanced Medical Reviews appeared first on iTelemedicine.
from iTelemedicine http://ift.tt/1RPSSmH
via IFTTT telehealthsuppliers.com
No comments:
Post a Comment