MedicalMessanging Assets Purchased by athenahealth
athenahealth announced that the company has purchased the assets (pdf) of MedicalMessaging.net, the business of Crest Line Technologies. The cash purchase amounts to $7.7 million to be paid out across time as benchmarks are achieved. It is anticipated that the purchase will be completed by the end of next month.
MedicalMessaging provides medical groups with patient messaging services. The system which will be purchased includes an on demand service that is centrally hosted; this supports communication between clinicians and patients.
athenahealth intends to leverage the resources of the company to provide email or live call communication between healthcare providers and patients. This resource can also be used to support communication of test results, collections, drug recalls, prescription refills, and other compliance efforts.
The two companies commenced a partnership last year. Customers utilize the technologies from both companies to reduce patient no shows and cancellations. This supports the revenues of healthcare practices.
The existing employees from MedicalMessaging.net will be taken on by athenahealth. athenahealth also plans to request that the three principals from MedicalMessaging.net stay on.
August 5, 2008 Related topics: Mergers & Acquisitions