Claimsnet entered into an agreement to acquire assets of Acceptius Inc., located in Dallas, Texas. The agreement is subject to due diligence and structured as an asset purchase for stock and cash.
The transaction is expected to close in early January 2008 adding approximately 35 percent to the revenue of Claimsnet. Both parties are in agreement as to the terms and conditions, though the transaction is subject to the approval of Acceptius shareholders.
Acceptius would be a strategic addition to Claimsnet’s transaction processing suite of services for the Healthcare industry with paper conversion and claims repricing. The acquisition is intended to extend Claimsnet’s claims processing capabilities and increase the company’s client base.
The two firms had an existing business relationship for a number of years leading to their merging agreement.
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