Texas-based revenue cycle management firm Cardon Outreach announced plans on Tuesday to merge with Diversified Healthcare Resources of California.
The merger consolidates technology and revenue cycle services of both companies to serve over 610 hospitals and 300 clinics in 46 states, according to Cardon.
Diversified provides eligibility and enrollment services for California hospitals and healthcare facilities. It provides a technology platform that manages patient eligibility, early out and third-party liability.
[Also: As EHR, revenue cycle tools overlap, experts say there's room for both]
Diversified has experienced significant growth in the California market, according to Cardon.
Diversified CEO Ana Gonzalez has assumed the role of president of the DHR Division of Cardon Outreach.
Following the merger, each entity will retain its brand and all current facilities will remain in place as they are today, according to Cardon.
"The merger with Cardon Outreach allows DHR to expand its lines of business while still providing the concierge service our clients are accustomed to receiving," Gonzalez said.
Cain Brothers served as financial advisor to Cardon Outreach; Greenberg Advisors advised DHR.
Twitter: @SusanMorseHFN