Advanced Data Processing, Inc. and Medical Consultants, Inc. Announce Merger and Acquisition of Intermedix.Creates the Premier Medical Billing Company Solely Focused on Emergency Care FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla. & OKLAHOMA CITY Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm -- Medical Consultants, Inc., the leading independent provider of emergency department billing services, and Advanced Data Processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a , Inc. ("ADPI ADPI Alpha Delta Pi Sorority ADPI American Dairy Products Institute ADPI Analog Devices (Philippines) Inc ADPI Australian Dance Performance Institute (Brisbane, QLD, Australia) "), the leading provider of billing services to emergency medical service agencies, announced the completion of a merger transaction sponsored by Parthenon Capital ("Parthenon"). Medical Consultants, Inc. operates under the trade name "Emergency Physicians Billing Services" or "EPBS EPBS Enhanced Project By-laws Scheme (Australian government) EPBS Emergency Physicians Billing Services (Oklahoma City, OK) ". EPBS is the largest independent provider of medical billing and coding services to emergency departments in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . EPBS provides a full outsourced billing solution, including chart coding, bill generation, bill submission, payment processing, collections and practice management services. EPBS' full billing solution enables its customers, primarily independent physician groups, larger physician staffing companies and hospitals, to outsource their entire back-office billing function. ADPI is the largest independent provider of medical billing and coding services to emergency medical services An Emergency medical service (abbreviated to initialism "EMS" in many countries) is a service providing out-of-hospital acute care and transport to definitive care, to patients with illnesses and injuries which the patient believes constitutes a medical emergency. agencies in the United States. ADPI also provides a full outsourced billing solution including the provision of mobile electronic patient record collection systems for its clients to capture patient information at the scene of the incident. ADPI's senior management team, headed by CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Doug Shamon and COO Bill DeZonia, will lead the combined company. EPBS will continue to be led by its current management team, headed by President Ken Goodin. Intermedix will continue to be led by its current management team, headed by President Jeremy Mattern, MD. This business combination creates a unique company focused solely on patient incidents from pre-hospital to the hospital emergency department. The combined company will serve over 300 emergency care provider companies in 20 states and 400 hospital emergency department locations. In addition, ADPI announced the acquisition of the assets of Intermedix, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a leading provider of medical billing services and technology to EMS providers in the State of Texas. The Intermedix state-of-the-art proprietary billing system supports clinical data, document images, and on-line web-based client access. Its mobile, tablet-based, electronic patient care reporting solution, Triptix(TM), is fully integrated with the billing software allowing customers a comprehensive view of financial and clinical patient data. Finally, its fully redundant and highly secure data center ensures full disaster recovery capabilities and unparalleled system security. Doug Shamon, Chief Executive Officer commented, "ADPI and EPBS are a natural fit. Our approach to quality, compliance, and specialized expertise in complementary specialties of the medical billing industry create a unique national company delivering value to emergency medical providers. Intermedix offers a state-of the-art billing platform that we plan to deploy across our EMS business segment over the coming two years. The platform includes point-of-care electronic capture of patient medical records seamlessly integrated with the billing software and on-line client access to clinical and financial information." The merger transaction was sponsored by Parthenon Capital. Parthenon had previously completed an investment in Medical Consultants, Inc. in 2005. Proceeds from Parthenon's investment, along with proceeds from other participants including ADPI senior management, Glenview Capital Management and other investors, were used to recapitalize the company and provide capital for future growth. EPBS (www.epbs.com) founded in 1983, provides comprehensive billing services for hospital-based emergency physicians setting the standard for customer service, information, management reporting, technology and overall performance. Advanced Data Processing, Inc. (www.emsclaims.com) specializes in emergency medical services billing. With a twenty-five year history, the company is the largest provider of EMS billing services in the country with four regional operations centers serving over 200 clients. Intermedix Technologies, Inc. (www.intermedix.com) provides technology solutions for EMS providers to efficiently document patient encounters at the point-of-care that seamlessly integrates the data with the billing system. Parthenon Capital (www.parthenoncapital.com) is a private equity firm with over $1.5 billion of capital under management and offices in Boston and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . The firm provides capital and strategic resources to growing middle market companies for acquisitions, internal growth strategies and shareholder liquidity. Parthenon provides equity to companies with revenues of $50 million to $500 million. The firm invests in a wide variety of industries with a particular expertise in the business services, healthcare and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries. Glenview Capital Management is an investment company with over $6.5 billion of capital under management and offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and London. In its sixth year of operations, Glenview invests in both the public and private markets across a wide variety of industries and geographies. This press release may contain forward-looking statements within the meaning of the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provision of the United States Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. While these statements represent our best current judgment, they are subject to risks and uncertainties that could cause actual results to vary. These statements may involve risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. |
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