OVERLAND PARK, Kan., Jan. 11, 2017 /PRNewswire/ -- The Corridor Group Holdings, LLC (Corridor) announced today that it has acquired Transpirus LLC, a leading national provider of outsourced coding, revenue cycle management and strategic consulting solutions for the home health and hospice industry. The transaction was completed on December 23, 2016. With Transpirus, Corridor becomes the largest national provider of full service revenue cycle, clinical documentation review, advisory and education services dedicated to home health and hospice.
"Transpirus is a top service provider in our space, with expert staff and an excellent reputation for quality," said Des Varady, Chief Executive Officer of Corridor. "Combining with Transpirus strengthens Corridor's ability to deliver services at scale and in a tailored way to meet each client's needs. Additionally, both companies have unique capabilities in technology, consulting and education that further expand the value we can deliver together."
In connection with the transaction, Ron Malone, Principal of Transpirus and former CEO of Gentiva Health Services will join Corridor's Board of Directors and provide guidance to Corridor's leadership team in that role. "Corridor has a strong reputation for delivering quality services," said Mr. Malone. "The combination of Corridor and Transpirus will leverage our joint capabilities and enhance offerings to our customers. We are very pleased to be joining forces with Corridor."
The dynamic post-acute market in which home health and hospice providers operate has been impacted by reimbursement pressures, regulatory changes, migration to managed contracts, increased regulatory scrutiny and continued market consolidation. With the addition of Transpirus, Corridor expands its ability to help clients succeed in all these areas while simultaneously allowing them to focus on their patients and their critical post-acute healthcare mission.
"Transpirus expands Corridor's industry leading post-acute services platform in a very meaningful way, consistent with our strategy and investment objectives," said Guy Bryant, HealthEdge Operating Partner and Corridor Board Chairman. "We are very excited to have Ron join our Board and for Transpirus to be part of the Corridor team."
Transpirus is a premier business process outsourcing and consulting firm specializing in the home health and hospice industry. Transpirus offers end-to-end outsourced coding, revenue cycle management and strategic consulting solutions in the areas of compliance, due diligence, financial, clinical and regulatory services. Leveraging over 30 years of experience and demonstrated outcomes, we help our clients drive better results by combining our consulting insights, subject matter approach and proven delivery model. Our solutions help our clients to enhance their care delivery model and ultimately deliver stronger financial results. For more information visit www.transpirus.com.
About The Corridor Group Holdings, LLC
Founded in 1989, The Corridor Group Holdings, LLC (Corridor) is a leading provider of outsourced coding, revenue cycle management, compliance services, consulting, and educational solutions to the post-acute healthcare industry. Since inception, Corridor has provided business advice and solutions to thousands of clients ranging from large health systems and national chains to smaller, independently operated agencies. Corridor is a portfolio company of HealthEdge Investment Partners (www.healthedgepartners.com). For more information visit www.corridorgroup.com.
About HealthEdge Investment Partners, LLC
HealthEdge Investment Partners, LLC (HealthEdge) is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience and network of relationships of its partners. HealthEdge's partners have more than 100 years of combined operating experience in healthcare as CEOs and investors. For more information on HealthEdge, visit www.healthedgepartners.com.
Director of Marketing
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/the-corridor-group-announces-the-acquisition-of-transpirus-300389541.html