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FOR IMMEDIATE RELEASE
MedData Acquires ManagedCare.com
June 02, 2008 – Charlotte, North Carolina – MedData, a division of AGDATA today announced that it has acquired healthcare analytics firm ManagedCare.com (www.managedcare.com). The move strengthens MedData’s position as a leading provider of real-time and other healthcare EDI and managed care services integrated with data analytics and business intelligence tools. This is the latest in a series of strategic acquisitions that have expanded the portfolio of fully integrated services MedData offers to many of the Nation’s leading providers, healthcare I.T. and processing vendors and payers.
“ManagedCare.com brings expertise and innovation in the area of healthcare analytics that perfectly augments the data collection and processing services we already offer. Their customized approach for specific geographic regions combined with their national scope, provides health plans, delegated entities such as IPAs and MSOs, and provider clients with a broad range of truly unique analytics solutions. Specifically, ManagedCare.com services address HEDIS reporting and Pay-for-Performance (P4P), disease management, Medicare/CMS initiatives (HCC/RAF) as well as other ad-hoc healthcare reporting requirements via the web-based, ASP portal,” said Steve Purdy, MedData’s Chief Operating Officer. “When you combine ManagedCare.com’s outstanding healthcare analytics capabilities with MedData’s existing processing and data aggregation services, the value proposition for payer and provider clients is unparalleled,” he continued.
In California, ManagedCare.com complements MedData’s other subsidiary Diversified Data Design (DDD) which currently functions as the data aggregator for the state’s Integrated Healthcare Association (IHA), which is a statewide leadership group that promotes quality improvement, accountability, affordability and sponsors pay-for-performance initiatives. ManagedCare.com’s ability to provide customized and in-depth analytical tools to support compliance with preventative care measures should provide tangible value to the IPAs, MSOs and payers within the California managed care market.
ManagedCare.com was co-founded by Curt Hatch and Michael Hodes over ten years ago. Both founders will continue to manage the day-to-day operations and will help lead the integration of the healthcare analytics functions into the MedData organization. “We are excited about how MedData and ManagedCare.com will complement each other’s expertise and resources. We can leverage MedData’s strong position in the California marketplace and we will continue to expand our presence nationally with a more diverse set of payer and provider target clients,” Hatch said. “ManagedCare.com has a long history of providing an expanding array of reporting services in dozens of U.S. markets. The integration of our combined resources and expertise will simply allow us to accelerate this trajectory. I am confident that our clients will recognize the benefits of this partnership almost immediately,” Hatch added.
About MedData
MedData, founded in 1997, is the healthcare division of AGDATA. Founded in 1985, AGDATA
(www.agdatacompanies.com), is a leading provider of data management services including
transactional data processing, rebate fulfillment, data mining, customer analysis, market research
and strategic marketing consulting to leading companies in crop protection, seed, animal health and
human health sectors. The firm has offices in Charlotte, North Carolina; Los Angeles, California;
Mason City, Iowa; Grand Junction, Colorado; and Cambridge, Ontario. MedData was formed to apply
the use state-of-the-art database and real-time transaction processing technology for the healthcare
industry. MedData blends database management expertise with web-based technology to automate
critical healthcare transactions enabling physician offices, hospitals and billing services to more
quickly and accurately complete transactions sent to and received from the Nation’s payers.
About Carousel Capital
Carousel Capital is a private investment firm that invests in companies located in the
Southeastern United States. Carousel’s investor base includes institutional investors and a group
of more than 100 current and former CEOs with significant operating experience. Since its
inception, Carousel has invested in 25 companies primarily in three targeted growth sectors:
business services; consumer products and services; and healthcare services.
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