Med-Metrix Acquires Health Ware Concepts

Company Expands Existing Strengths in Performance Management and Revenue Cycle Solutions

Mar 07, 2011, 16:57 ET from Med-Metrix, LLC

MONTVALE, N.J., March 7, 2011 /PRNewswire/ -- Med-Metrix, LLC (Med-Metrix) today announced that it has acquired Health Ware Concepts, Inc. (HWC), a leading provider of Software-as-a-Service (SaaS) Decision Support technology, Consulting, and Revenue Recovery Services to the health care industry. The transaction enhances Med-Metrix's existing technology offerings with a robust, web-based software suite and compliments the company's strong advisory and outsource service capabilities that enable health care providers to significantly improve their financial, clinical, and operational performance.

"This acquisition substantially broadens our Decision Support and analytic capabilities, and positions us for significant future growth in the multibillion dollar Performance Management and Revenue Cycle market segments," said Ronald Davi, President and Chief Executive Officer of Med-Metrix. "We've known HWC and its President Jim Morrisy for many years and admire the quality work he and his talented team deliver to hospitals. Their commitment to outstanding client service and continuing investment in the latest technologies dovetails with our data driven, customer-oriented culture. We are excited to have the HWC team on board in our mission to help the health care community successfully navigate heightened financial pressures and regulatory burdens on their business."

Jim Morrisy, President of Health Ware Concepts, commented, "Med-Metrix's acquisition of HWC is the perfect strategic fit for our company and clients. The goals and values of the companies are consistent and our combined capabilities enhance our capacity to improve clients' financial performance. I am extremely pleased that HWC has joined the Med-Metrix team."

Financial terms of the agreement were not released.

About Med-Metrix

Med-Metrix provides Performance Management and Revenue Cycle solutions to the health care industry. Designed specifically to improve clients' margins and productivity, our offerings leverage our proprietary FLOWtechnology platform ® of graphic-rich reporting and automated workflow coupled with advisory and outsource services as needed. To learn more, visit www.med-metrix.com.

SOURCE Med-Metrix, LLC



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