Imagenet Acquires CODY to Create A Comprehensive Suite of SaaS and Services Solutions for Health Plans

The acquisition will provide health plans serving the Medicare, Medicaid, and Commercial markets with solutions previously unavailable under a single vendor partner

TAMPA, Fla., Jan. 14, 2025 /PRNewswire/ -- Imagenet, a leading digital mailroom, claims adjudication, contact center, and Print-to-EDI (P2E) solutions partner to health plans and managed care organizations for more than two decades, today announced the acquisition of CODY, which provides proprietary software, outsourced services, and consulting solutions for member communications and compliance to 71 health plans. The deal was officially completed on December 31, 2024.

The acquisition will provide health plans serving the Medicare, Medicaid, and Commercial markets with a comprehensive suite of claims- and compliance-oriented solutions previously unavailable under a single vendor partner. Notably, CODY adds proprietary software and customized consulting services for enhanced compliance, enrollment, and reconciliation. The combined company will serve more than 150 health plan customers through a global workforce of over 1,000 employees across 10 locations in the U.S. and a wholly-owned, scaled delivery center in Manila, Philippines.

As health plans face increasing pressure to enhance quality, achieve compliance, and reduce administrative costs, Imagenet provides highly effective solutions that streamline operations while enhancing accuracy, efficiency, and provider and member satisfaction. With the acquisition of CODY, which has served health plans since 2006, Imagenet's capabilities for supporting enhanced operational efficiencies and administrative savings will only grow.

"The current solutions landscape for health plans is fragmented, with multiple vendors and disjointed solutions. These vendors also do not provide consistently high levels of service delivery which is our hallmark. There is a clear need for vendor-partners who can execute, scale quickly, and deliver a more streamlined, integrated solution," said Zac Fritz, CEO of Imagenet. "At Imagenet, we view execution as differentiation.  With CODY, we will now offer broader solutions in member communications with a track record like ours of expertise, responsiveness, and client-centricity."

Over the next few months, the combined company will focus on building out additional core solution capabilities and enhancements. It will also explore opportunities to develop new digital and AI-driven solutions, driven by CODY's deep expertise in software development and data models.

"Health plans are looking for a single source end-to-end solution that can enhance efficiencies, reduce costs, and improve overall performance," said Deb Mabari, Founder and CEO of CODY. "By leveraging our combined expertise and resources, we can improve existing offerings and fast-track the development of new solutions that will help health plans optimize operational performance and increase ROI."

Sean Wilder, Managing Director at BV Investment Partners, Imagenet's private equity investment partner, commented, "We are excited to support the Imagenet and CODY teams in this transaction and the roadmap forward, aiming to bring a unique set of high-ROI solutions to market for health plans, backed by decades of experience and a track record of unparalleled service delivery."

About Imagenet
Imagenet is a leading healthcare operations partner for health plans and managed care organizations. Imagenet provides a comprehensive suite of solutions, including digital mailroom, claims adjudication, and contact center services. Since 2000, Imagenet has served hundreds of clients, including regional healthcare plans, large government agencies, and managed care organizations. Imagenet's 10 regional delivery centers, offshore presence, experienced teams, streamlined processes, and proprietary technologies offer cost effective and operationally efficient solutions. Learn more at ImagenetGlobal.com.

About CODY
An industry leader in healthcare technology and governance, risk, and compliance solutions for health plans, CODY provides proprietary software and customized consulting services exclusively to more than 70 government-funded, commercial, and ACA health plans across 50 states and Puerto Rico. CODY's proprietary software, customized consulting, and best-in-class outsourcing, offer a single-source opportunity to maximize performance, ensure regulatory compliance, and optimize outcomes from end-to-end.
Learn more at CodyConsulting.com.

For More Information
Lara Sassounian
[email protected]

SOURCE Imagenet