Combined organization to focus on services that help customers improve operational results and financial outcomes.
ATLANTA, GA (October 1, 2012) – McKesson and MED3OOO today announced they have signed a definitive agreement under which McKesson will acquire MED3OOO, a national healthcare management and technology services company that helps improve outcomes for providers, health plans, employers, and the patients and employees they serve.
MED3OOO’s products and services include physician group management, billing and revenue cycle management (all specialties), hosted applications, third-party administrator services, and a proprietary, cloud-based solution that enables practices to rapidly adjust to the ever changing demands of healthcare without concern for server expansions, software and system upgrades or extended downtime due to hardware failure. Once complete, the acquisition will complement the medical billing and practice management service offerings of McKesson Revenue Management Solutions (RMS) and accelerate expansion into growth markets, including the ability to provide new domain expertise, services and technologies that help customers build and succeed within an accountable care environment.
Based in Pittsburgh, Pa., MED3OOO employs 2,800 employees in the U.S. and has been recognized by Inc. magazine on its Top 5,000 List for the last five years as one of the fastest growing companies in the nation. MED3OOO provides a broad array of proprietary and non- proprietary healthcare management and technology services to an expansive customer base that includes more than 10,000 physicians, 15,000 technology users, numerous hospitals and health systems, physician networks, state and local municipalities providing third party administration and benefits consulting for employers or state agencies, as well as revenue cycle management services for EMS providers and independent practice associations.
“McKesson and MED3OOO share a commitment to help customers navigate growing healthcare complexity and achieve their full potential,” said Pat Leonard, senior vice president and general manager, RMS. “We are excited about the opportunity to combine best practices and superior technologies to help providers and other customers improve their operations and achieve better business health as part of our Better Health 2020™ strategy.”
The parties expect to complete the acquisition in the next few months, subject to the satisfaction of customary conditions, including all necessary regulatory clearances.
“The future of healthcare reform will reward those that can provide measureable improvements in the cost, quality and access to care,” said Patrick Hampson, chairman and chief executive officer of MED3OOO. “Together, McKesson and MED3OOO will provide industry leading expertise and the sophisticated infrastructure and reporting that our provider, supplier and employer customers need as they better manage their populations of patients and employees.”
McKesson Revenue Management Solutions is a leading provider of medical billing and practice management services, with a team of more than 4,500 experienced revenue cycle professionals. With its focus on helping physicians and other constituents improve their financial performance, the acquisition of MED3OOO is a reflection of McKesson Technology Solution’s Better Health 2020™ strategy. Better Health 2020 represents the company’s commitment to support organizations as they focus on the demands of health reform, including the need to reduce costs, coordinate care, assume more risk and manage complex payment models. Together with its customers, McKesson is forging a path to the future that enables better business, better connectivity and better care for all.
McKesson Corporation, currently ranked 14th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. We partner with payers, hospitals, physician offices, pharmacies, pharmaceutical companies and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. For more information, visit www.mckesson.com
MED3OOO is a leading provider of healthcare management and technology services that focus on improve outcomes for providers, health plans, and the patients and employees they serve. The Company provides a broad array of proprietary solutions for physician groups, hospitals, health systems, health risk organizations, and state and local municipalities, enabling them to reach their maximum potential with respect to operational, financial and clinical results. Through the integrated application of systems, operations, analytics and domain expertise, MED3OOO serves as the premier strategic operations partner for the healthcare community. The company’s depth of knowledge across its services, economies of scale, infrastructure and ability to offer and manage disparate information systems provide MED3OOO with a distinct competitive advantage in the rapidly evolving healthcare industry. Each of the components of MED3OOO’s product and services suite is a critical competency for moving toward the delivery of accountable care. For more information, visit www.MED3000.com