NextGen Healthcare Information Systems, a wholly owned subsidiary of Quality Systems, Inc., announced this morning that it will acquire revenue cycle management company Practice Management Partners of Baltimore, MD. Terms of the agreement were not disclosed.
PMP, which was founded in 2001, has 200 employees, handles 16 million transactions per year, and has annual revenue of $16 million from its service area of MD, DC, PA, and VA. Perry Snyder is the company’s founder and chair while Don Good, formerly of HCIA, is president and CEO.
Patrick Cline, President of NextGen Healthcare said "We have been very pleased with the demand we have seen for our revenue cycle management services, and while we remain committed to organic growth in all areas of our business, PMP will help to build out our RCM capability both geographically and with regard to capacity and talent. This acquisition also continues to build our base of recurring, visible revenue. Like HSI, PMP presents a number of strategic synergies."