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ProCare Health acquired by Clinigence Holdings

Written by Harry Johnson

Clinigence Holdings, Inc., one of the nation’s leading technology-enabled, risk-bearing population health management companies, today announced that it has completed the acquisition of ProCare Health, Inc.

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Clinigence Holdings, Inc., one of the nation’s leading technology-enabled, risk-bearing population health management companies, today announced that it has completed the acquisition of ProCare Health, Inc.

Based in Garden Grove, California and founded in 2011, ProCare is a leading management services organization (“MSO”) that currently provides services for one health maintenance organization (“HMO”) and three independent physician associations (“IPAs”) in Southern and Northern California. MSOs are business organizations that provide the necessary administrative infrastructure and technology for risk-bearing IPAs to function successfully in their relationships with contracted payors and regulatory agencies. MSOs enable physician organizations to succeed in the assumption of financial and population risk, to improve the organization’s performance in care delivery and to provide actionable data analytics. ProCare provides claims administration, compliance, credentialing, quality management, utilization management, contracting, provider relations, member services, care management, coding optimization and financial reporting services, among other services.

Under the terms of the stock purchase agreement, Clinigence issued 759,000 newly-issued shares of common stock to the equity holders of ProCare at closing in exchange for 100% of the outstanding equity securities of ProCare. Additionally, an earnout structure has been put in place to reward ProCare with any new MSO contracts in the future.

“The acquisition of ProCare is part of our ongoing growth strategy and allows us to further expand our portfolio in the MSO segment,” stated Warren Hosseinion, M.D., Chairman and Chief Executive Officer. “We are delighted to welcome the ProCare team, whose expertise and passion will strengthen our company.”

“We are delighted to join Clinigence, whose management team has over 100 years in combined experience in the sector,” stated Anh Nguyen, Founder and Chief Executive Officer of ProCare Health. “ProCare is at the forefront of managed care, focusing on utilization management, risk-adjusted disease stratification and assisting providers in delivering quality care to their patients.”

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About the author

Harry Johnson

Harry Johnson has been the assignment editor for eTurboNews for almost 20 years. He lives in Honolulu, Hawaii, and is originally from Europe. He enjoys writing and covering the news.

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