MINNEAPOLIS & STAMFORD, Conn.--(BUSINESS WIRE)--ABILITY® Network Inc, a market-leading healthcare technology company, welcomes IVANS®, a trusted provider of secure communication services, to the country’s largest secure web-based healthcare network. The companies jointly announced that they have entered into a definitive merger agreement. Together the combined company will create the most reliable and secure network to Medicare and other payers and an unparalleled opportunity to accelerate the delivery of a broad set of innovative products and services across that platform.
ABILITY Network has also entered into a definitive agreement to sell the Property and Casualty business of IVANS to Applied Systems Inc., a leading provider of software that powers the business of insurance.
Thousands of providers trust the ABILITY Network for their secure and reliable connection to Medicare and other payers and for a suite of innovative products and services that streamline complex workflows. By listening to and learning from its customers, ABILITY has brought workflow tools, like ABILITY EASE, to the Network, enabling providers to interact with CMS much more efficiently. For over thirty years, IVANS has been helping healthcare providers and payers connect to Medicare and other payers with its data exchange platform, and can now bring the benefits of ABILITY’s network and powerful workflow tools to all of its customers.
“We are pleased that IVANS has agreed to join us and become part of the ABILITY Network. Our unified team will be in a terrific position to continue our conversations with the market, finding new ways to help reduce administrative complexity so our providers can focus on bringing the best care to each patient,” said Mark Briggs, who will continue as ABILITY’s CEO and lead the combined organization. “As the government continues to reform healthcare, particularly the way providers and payers interact with Medicare, we’re certain that the pace of change will accelerate. Our expanded capabilities will continue to enable us to help our providers and payers manage these market changes, ultimately elevating the healthcare conversation,” Briggs added.
“As we learned more about the value ABILITY has added to its network, it became clear to all of us at IVANS that our customers would enjoy enormous benefits through this merger. We have never been more excited about the opportunity to serve our customers and have never been in a better position to do so, now as part of the ABILITY family,” said Bob Payne, Chairman, IVANS Inc.
The merger is expected to close within 90 days, subject to standard closing conditions. Terms of the deal were not disclosed. Investment banking firm, Marlin & Associates, advised Bain Capital Ventures on this transaction.
ABOUT ABILITY NETWORK INC
ABILITY Network is a leading healthcare technology company, trusted for over a decade by hospitals, home health care agencies, hospices, skilled nursing facilities, DME providers and physicians to provide secure and reliable connections to Medicare and other payers and for a broad suite of innovative products and services that help manage the administrative complexities of healthcare. ABILITY is bringing about a meaningful change in healthcare, elevating the conversation, to improve the patient experience and help providers focus on what they do best, deliver quality care. To learn more, please visit www.abilitynetwork.com.
ABOUT IVANS INC.
For 30 years, IVANS Inc. has provided the healthcare and property-casualty insurance industries with fully managed network, electronic data interchange (EDI) and interface solutions to help solve complex business issues. Today, more than 1,000 enterprises, 16,000 healthcare providers and 30,000 independent agencies use IVANS to connect to trading partners and mission critical applications. IVANS, which was founded by 21 insurance companies, is headquartered in Stamford, Conn., and has offices in Tampa, Fla. and Cincinnati, Ohio. For information, visit www.ivans.com.
ABOUT APPLIED SYSTEMS INC.
Applied Systems is a leading provider of software that powers the business of insurance. The company is recognized as a pioneer in agency management systems and data exchange between agencies, brokers, carriers and their clients. By automating the insurance lifecycle, Applied Systems software enables millions of people around the world to safeguard and protect what matters most. To learn more, please visit www.appliedsystems.com.