National Medical Billing Acquires MedTek
National Medical Billing Services of St. Louis, Missouri, has acquired MedTek of Woodland Hills, California, according to a release. This partnership will further enhance National Medical’s position as an end-to-end provider of outsourced revenue cycle solutions serving ASCs, surgical practices and anesthesia groups. It also marks National Medical’s fourth transaction since its January 2021 partnership with Aquiline Capital Partners, a private investment firm based in New York and London with $9.6 billion in assets under management.
“We are constantly evaluating strategies to add value for clients and we are ecstatic to partner with the MedTek team to further expand our offering,” said Nader Samii, National Medical’s chief executive officer (CEO), in the release. “MedTek brings unmatched, ASC-specific medical transcription, surgical coding and related revenue cycle software and services, which are all extremely complementary to National Medical’s existing portfolio. By combining our organizations, we’re able to further enhance our clients' financial profiles by improving their working capital position while maximizing reimbursement—simply put, without sacrificing compliance, we want our clients to get paid more, and get paid faster.”
Founded in 2001, MedTek provides ASCs with revenue cycle solutions including medical transcription, coding, billing and related software products. The company’s transcription offering includes a mobile app and 24/7/365 customer support. MedTek employs more than 100 surgical coders operating through a management tool and interactive dashboard. Supplementing its revenue cycle services, MedTek has developed its EZSuite software products that include tools to facilitate chart management, patient admittance, patient scheduling and provider credentialing. The company’s client base includes many prominent ASC organizations and spans nearly 50 states, according to the release.
“MedTek has worked tirelessly to develop its medical transcription, coding and software solutions to specifically cater to the needs of individual ASCs and ASC management companies, and we’re ecstatic to partner with National Medical,” said Manny Singh, CEO of MedTek.
Neal, Gerber & Eisenberg LLP and Ropes & Gray LLP served as legal counsel to National Medical. Lincoln International LLC served as the exclusive financial advisor to MedTek for this transaction and Proskauer Rose LLP served as legal counsel to the company, according to the release.