MINNEAPOLIS--(BUSINESS WIRE)--ABILITY® Network, a market-leading healthcare technology company, announced today that it has entered into a definitive agreement to acquire MD On-Line, Inc. (MDOL), a trusted provider of electronic healthcare solutions. The transaction will create the most reliable and secure web-based network across the continuum of care, and will bring an unparalleled opportunity to accelerate the development and delivery of innovative products and services across its platform.
Since 2000, ABILITY Network has been an industry leader with ground-breaking web-based technology, including simplified connectivity to Medicare and innovative workflow management tools. Thousands of hospitals, home health care agencies, hospices, skilled nursing facilities, and other acute and post-acute organizations throughout the U.S. depend upon ABILITY services to manage the complexities of administrative and clinical processes.
For nearly twenty years, the Parsippany, NJ-based MDOL has been serving healthcare ambulatory providers, payers, and other customers with connectivity, workflow, and analytic solutions. With this acquisition, ABILITY will now be able to serve care providers across the continuum—ambulatory, acute, and post-acute settings—and connect them with all payers.
“By combining MDOL’s ambulatory provider customer base with ABILITY customers in the acute and post-acute arenas, we will more effectively deliver solutions that serve patients as they move across the continuum,” said Mark Briggs, ABILITY Network CEO.
“We are thrilled that MD On-Line has agreed to join us and become part of ABILITY Network,” Briggs continued. “Our unified organization will be in a terrific position to accelerate the delivery of even more innovative solutions to serve care providers in every area of healthcare, and allow them to focus on what they do best: delivering great care to their patients.”
“Given both ABILITY’s reputation and area of expertise, naturally we gravitated towards an opportunity to align ourselves with their company,” said Bill Bartzak, who has served as CEO of MD On-Line since founding the company in 1995. “We believe this deal holds enormous promise, both for our partners and our providers, and look forward to complementing their existing services with our robust and innovative offerings. Through leveraging our respective connections, together we can further expand our reach to penetrate new markets and explore yet untapped areas of potential growth.” Bartzak will join ABILITY’s senior leadership team, helping to continue to drive the company forward.
Evercore acted as exclusive financial advisor to MD On-Line and its Board of Directors on this transaction.
The transaction is expected to close shortly, subject to standard closing conditions. Terms of the deal were not disclosed.
ABOUT ABILITY NETWORK
ABILITY® Network is a leading healthcare
technology company trusted for over a decade by thousands of hospitals,
home health care agencies, hospices, skilled nursing facilities, DME and
other healthcare providers throughout the U.S. ABILITY provides a broad
suite of innovative workflow tools to help manage the administrative
complexities of healthcare. ABILITY is headquartered in Minneapolis,
with anchor offices in Boston and Tampa, and satellite offices across
the country. To learn more please visit www.abilitynetwork.com.
ABOUT MD ON-LINE, INC.
Founded in 1995, MDOL is a leading
provider of data-driven healthcare solutions that improve practice
efficiency and enhance patient care. Endorsed and cobranded by more than
50 major insurance companies, MDOL applies its cloud-based technology to
optimize provider offices and educate them on the latest advancements in
medicine directly related to their patient population. The company's
all-payer EDI solutions directly connect tens of thousands of providers
with more than 2,200 payer organizations nationwide. In addition to
claims processing, MDOL offers a full suite of web-based solutions,
including a fully integrated practice management and electronic medical
records platform, revenue cycle management, medical transcription,
electronic remittance advice, patient statements, real-time eligibility,
patient reminders, and credit card processing. For more information,
please visit www.MDOL.com.
