Press Contact: AHS Contact:
Theresa Murray Bill Gilbert
Senior Account Executive Vice President Marketing
Gregory FCA AdvantEdge Healthcare Solutions
ADVANTEDGE HEALTHCARE SOLUTIONS ACQUIRES AMSplus
Warren, NJ, and Braintree, MA—January 5, 2011– AdvantEdge Healthcare Solutions (AHS), one of the nation’s leading providers of medical billing and practice management services, announced today that it has acquired AMSplus, Inc., a division of CBay Systems (AIM: CBAY). AMSplus has been offering billing and practice management services to clients since 1982.
“We are proud to welcome AMSplus to the AHS family,” said David Langsam, President and CEO of AHS. “This acquisition expands our already broad presence in New England and enhances the suite of billing and practice management services that are available to medical practices, hospitals, and ambulatory surgery centers throughout the Northeast. AMSplus is a like-minded company, with similar expertise in radiology, pathology and other hospital-based specialties and shares our Client First™ philosophy.”
“This is a tremendous opportunity for AMSplus and all of our customers,” said Marc Bolh, President and CEO of AMSplus. “At AMSplus, we pride ourselves on giving our customers the options and flexibility to make their practices prosper. By joining with AHS, we are expanding our technological sophistication and further enabling the company to meet the current and future needs of our clients.”
As part of the transaction, Bolh will join the AHS management team as Senior Vice President, bringing his more than 30 years of experience in clinical and management services to the company. AHS will continue operations at the AMSplus facilities in Braintree, Mass. and Salem, N.H. One hundred and fifty AMSplus associates will also join the AHS team.
Falcon Capital Partners, LLC represented CBay as its advisor in this transaction.
About AdvantEdge Healthcare Solutions (AHS)
AHS is a leading provider of physician billing and practice management services and software to hospital-based physician groups, other specialty physician practices, and ambulatory surgery centers (ASCs) throughout the United States. AHS’ state-of-the-art technology efficiently collects financial information and speeds the reimbursement of third-party claims and patient payments, enabling physicians to maximize revenue and decrease their billing and practice management costs, frequently in dramatic ways. The AHS commitment to clients is “More money, faster. Practice financial data, available anytime, anywhere. Regulatory compliance, built-in. And, Client First™ service.” AHS is an IBM Business Partner for physician billing solutions. www.ahsrcm.com
About AMSplus, Inc.
For nearly 20 years, physicians have been turning to AMSplus for solutions to the ever-increasing difficulties of hiring knowledgeable staff and choosing the right technology for today. With a staff of over 150 specialists in all of the billing disciplines, AMSplus works with each client as a business partner, continually focusing on increasing revenues and reducing risk.
CBay is a leading provider of integrated clinical documentation solutions for the U.S. healthcare industry. CBay serves healthcare providers with a broad range of solutions including voice capture and automated speech recognition solutions, medical transcription, document management, and coding services. These services are provided to more than 2,400 healthcare systems, hospitals and physician practices throughout the United States. The Company’s services enable customers to improve the quality and timeliness of clinical data and information, reduce operational costs, increase physician satisfaction, enhance revenue cycle performance and facilitate the adoption and utilization of Electronic Health Record (EHR) systems. CBay trades under the CBAY symbol on the AIM of the London Stock Exchange.
About Falcon Capital Partners, LLC
Falcon Capital Partners, based in Radnor, PA is a nationally recognized, healthcare focused investment banking firm providing strategic advisory, merger and acquisition and venture financing services to lower middle market companies throughout the country. To learn more about Falcon Capital Partners, visit www.falconllc.com.