A Medical Device Daily
MedAssist Holding (Louisville, Kentucky), a provider of outsourced patient eligibility, accounts receivable management, and collections services to hospitals throughout the U.S., reported that it has acquired Twin Medical Transaction Services (Las Vegas), an eligibility services-focused provider of healthcare revenue cycle outsourcing solutions. The financial terms of the acquisition were not disclosed.
Twin Medical, founded in 2000 by Joseph Cook, has offices in seven states, primarily in the western U.S., and specializes in revenue cycle management services to the healthcare industry.
“This business combination is positive for the customers and employees of both companies, as we continue to build an industry-leading company with additional resources, geographic reach, and customer services,“ said Michael Shea, CEO and founder of MedAssist.
Cook will assume the role of division president of MedAssist, with responsibility for MedAssist's West Coast operations.
MedAssist was advised on this transaction by RoundTable Healthcare Partners, the company's majority shareholder.
Kendle (Cincinnati), a global full-service clinical research organization (CRO), reported that it has completed its acquisition of Latin America CRO International Clinical Research (IC-Research) and related companies, which it said further strengthens its global clinical development capabilities in the Phase II-IV arena through new operations in Argentina, Brazil, Chile and Colombia.
Kendle acquired the IC-Research business for an undisclosed cash amount. Specific terms of the agreement were not disclosed.
The company noted that the buy builds on the company's base of operations in Mexico and Peru, with Kendle now offering coverage across more Latin American countries than any other CRO.
The company's offices in six major countries represent 80% of the region's population, providing Kendle customers with significantly expanded access to one of the most important ascending regions for clinical research. Kendle reported its agreement to acquire IC-Research back in March (Medical Device Daily, March 13, 2006).
Kendle's global clinical development business is organized in five regions – North America, Europe, Asia/Pacific, Latin America and Africa – to meet customer needs. The company's focus is on strategic business expansion in high-growth regions to deliver global trials for its biopharmaceutical customers.