Zelis Healthcare and RedCard Systems have agreed to merge their businesses, creating a payments optimisation platform for the healthcare sector.
The companies did not reveal the deal terms.
The new payments optimisation platform will enable one to price, pay and explain claims.
The merged entity will have operations in Bedminster, New Jersey; St. Louis, Missouri; Clearwater, Florida; Atlanta, Georgia; as well as Overland Park, Kansas.
The deal is pending regulatory approvals and anticipated to complete in the third quarter of this year.
Zelis CEO Doug Klinger said: “The key focus of this combination is to deliver deeper electronic penetration, best-in-class claim cost savings performance and a transformational billing and payments experience, all for the benefit of payers, providers and consumers.”
The consolidated group will be headed by Klinger as the CEO.
RedCard chairman Joe DiMartini and CEO Eric Schaefer will assume senior executive positions at the group.
DiMartini stated: “The combined company’s payment optimisation solution combines the three critical activities along the payment value chain: the payment data platform or software ‘brain’ to manage and communicate payment data, a highly attractive payment network and payment execution technology, and proprietary processes and expertise to organise every step required to efficiently and effectively take a complete payment file from start to finish.”
