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Article published November 10, 2009

Ingenix to buy CareMedic Systems in cash deal

By Jean DerGurahian

Posted: November 10, 2009 - 12:15 pm ET

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Ingenix said it will acquire revenue-cycle-management applications developer CareMedic Systems in a cash deal.

Terms of the sale were not disclosed, a company spokeswoman said. The deal will allow Ingenix to combine its information technology expertise with St. Petersburg, Fla.-based CareMedic's revenue-cycle-management products to create an interoperable cycle from patient registration through the time payment is received.

Eden Prairie, Minn.-based Ingenix is a subsidiary of UnitedHealth Group. Earlier this year the insurer paid $50 million to help establish a new database to collect information on health insurers' physician reimbursement rates as the result of a settlement with New York Attorney General Andrew Cuomo, who investigated the Ingenix database on grounds it skewed those rates. Insurance companies involved in the lawsuit settled with Cuomo's office for almost $100 million.

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