Napa medical billing, receivables software maker SyMed acquired by Cosentus
SyMed Corporation, a health care billing software company headquartered in Napa, has been acquired by Cosentus Business Services, a global business services company with locations in Northern California.
Terms of the acquisition, quietly announced in April, were not disclosed. But the announcement by a broker of the deal said that Consentus will gain “access to the growing behavioral health and ophthalmology markets, over 15 cross trained consultants, cloud capabilities, and Symed’s proprietary ClaimsManagerPro, Trip ManagerPro and CredentialMyDoc modules. The modules provide claims management, transportation billing and credentialing capabilities.”
Pennsylvania-based Falcon Capital Partners LLC, a market investment bank, said it represented SyMed in the deal, tasked “to assist the business with its exit.”
Arthur Roosa, CEO and founder of SyMed and now chief business and technology strategist of Cosentus, stated in Falcon’s announcement, “We are excited to play an even bigger role in the world of RCM and healthcare consulting, with an expanded team that is poised to provide unmatched outcomes.”
Started in 1990, SyMed has focused on software for revenue cycle management for physician offices, hospitals and other health care facilities. That involves helping the provider track and analyze billing and receivables from the time patients are registered to the time of payment or reimbursement from insurers or government agencies.
