AKRON, Ohio (October 5, 2021)—ACU-Serve, Corp. has acquired Professional Medical Administrators, Inc. (Pro-Med) to become the largest home medical equipment (HME) revenue cycle management firm in the United States.
Pro-Med was founded in November 1996 by Sylvia Toscano, a respected industry veteran, who will assume a role with ACU-Serve as its V.P. of Client Services.
Over the last 27 years, Pro-Med has become a formidable force in HME billing and collections solutions.
“Based on the ever-changing and increasingly complex industry needs and payer challenges, we repeatedly found that we needed enhanced technology and a turn-key service offering for our clientele, which is exactly what we found in ACU-Serve,” said Toscano. “We compliment each other in so many extraordinary ways which will only continue to drive quality, productivity, collections and client success. We are very excited to bring these best-in-class solutions to our clients”
The acquisition provides ACU-Serve with over 60 additional U.S.-based employees and positions ACU-Serve as the largest HME revenue cycle management solution in the country, with 200 employees in the U.S.
“In a world where HME providers are struggling with staffing, our acquiring Pro-Med and being able to utilize their highly trained HME resources is a tremendous opportunity,” said Jim Knight, CEO of ACU-Serve. “As our competitors continue to lead with offshoring and focus solely on lowering labor cost, our strategy is to use best-in-class technology solutions and processes, coupled with well-trained U.S. staff to capture the highest collection rates in the industry at the lowest cost. That is the value proposition our clients want and deserve and we can now deliver that to anyone in the United States.”
The M&A market for healthcare companies continues to strengthen in 2021 and ahead of the projected increases in US capital gains taxes. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
Do you know the current market value of your business? We do! We are here to help you plan, prepare, explore and succeed in executing your strategic options.
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