The Gores Group, a private equity firm based in Los Angeles, announced its acquisition of GE Healthcare Strategic Sourcing from GE Healthcare, effective immediately.

Though terms of the deal were not disclosed, the transaction was led by The Gores Small Capitalization Partners, its $300 million fund that targets lower middle-market businesses.

Wilbraham, Mass.-based GE Healthcare Strategic Sourcing—which will begin operating as Meridian Medical Management—provides healthcare systems with electronic billing and electronic medical records outsourcing solutions.

“GE Healthcare Strategic Sourcing occupies a unique position in the market, with the ability to provide top-tier electronic medical record and outsourced revenue cycle management to very large multispecialty physician groups,” Rob Gontarek, Meridian's newly appointed CEO, said in a release.

Gontarek previously served as COO of Diagnostic Health Corporation, a provider of diagnostic imaging services, which The Gores Group bought in 2007. They have since sold off their interest in the company in multiple pieces to various entities. No other details behind the divestiture have been released.

The Gores Group recently purchased healthcare company Therakos for an undisclosed amount, completing its acquisition from Ortho-Clinical Diagnostics in January.