AMN Healthcare acquires Peak Health Solutions
AMN Healthcare has acquired Peak Health Solutions, a $33m revenue provider of remote medical coding and medical consulting solutions, based in Franklin, Tennessee.
Peak Health Solutions is currently generating annualised revenue of approximately $33m and an adjusted EBITDA margin of greater than 15%.
Susan Salka, president and chief executive of San Diego California-based AMN Healthcare, said, "As the industry leader in workforce solutions, AMN takes great pride in listening and responding to the ever changing needs of our clients through both internal innovation and strategic acquisitions.
"The addition of Peak Health Solutions will expand our workforce solutions and enable AMN to offer our clients services in accurately coding diagnosis and procedure codes, which is critical to clinical quality reporting and the financial health of healthcare organizations."
John Morris, president of Peak Health Solutions, added, "Our purpose is to help healthcare providers classify and improve clinical documentation to ensure accurate outcomes and timely reimbursement. With more than 150,000 ICD-10 codes to choose from, healthcare organizations have an ongoing need for coding support to reduce potential lost revenue, minimize compliance risk and augment their billing teams.
“Together with AMN Healthcare, we can deliver even greater value to the evolving healthcare community."
The acquisition is expected to be immediately accretive to AMN's earnings per share.
The acquisition was funded out of cash on hand and borrowings under the company's existing revolving credit facility.
The business will be included in the company's Other Workforce Solutions segment for financial reporting purposes.