Health care software firm RealMed Corp. will keep its base of operations in Indianapolis after being acquired by health information exchange provider Availity LLC of Jacksonville, Fla.
Terms of the deal announced Wednesday were not disclosed.
Founded in 1995, RealMed makes software to process health care claims and payments. It attracted tens of millions of dollars in venture capital in its early years and employed 210 at its pre-recession peak.
The company began to regain its momentum about two years ago, signing up thousands of new doctors and boasting a 99-percent customer retention rate.
Availity bills itself as a national leader among health information exchange providers, which help clients handle electronic medical records. The company said acquiring RealMed will allow the combined enterprise to improve the range of services it offers customers.
Officials expect combined revenue to reach $100 million, the company told the Jacksonville Business Journal. Availity reported $70 million in revenue in 2009.
Together, Availity and RealMed have relationships with a network of more than 200,000 health care providers, 1,000 hospitals, 1,300 health plans and 500 industry partners, the company said. Last year, it announced a partnership with Indianapolis-based WellPoint Inc.
RealMed had about 150 employees early this year. Availity has 300 workers at offices in Florida and Texas.
Source:http://www.ibj.com/indianapolis-software-firm-realmed-acquired/PARAMS/article/22036
