Medical Billing Firms Merge, Acquire Another Billing Firm

Medical Consultants, Inc., the leading independent provider of emergency department billing services, and Advanced Data Processing, Inc. (ADPI), the leading provider of billing services to emergency medical service agencies, announced the completion of a merger transaction sponsored by Parthenon Capital.

Medical Consultants, Inc. operates under the trade name Emergency Physicians Billing Services or EPBS. EPBS is the largest independent provider of medical billing and coding services to emergency departments in the United States. 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 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 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. <!–PAGEBREAK–>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, 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.