Physician practice management and technology company PracticeXpert Services Corp., Toluca Lake, Calif., began trading as a public company Monday after completing a so-called reverse acquisition late last week.
Late Friday, PracticeXpert merged into Thaon Communications, a shell of a publicly traded firm that liquidated its holdings in December and January. PracticeXpert assumes the Thaon name and THON ticker symbol on the Over-the-Counter Bulletin Board while it works out the legalities of changing the corporate identity over the next several months, PracticeXpert President and CEO Jonathan Doctor says.
At midday Monday, Thaon shares were trading at 10 cents, down 2 cents from the opening.
PracticeXpert is a holding company for K.R. Johnson & Associates and for Healthcare Administrative Management Corp., two firms that provide medical billing, coding, transcription, staffing, space planning and other back-office services to small physician specialty practices. It currently serves about 50 physicians in eight markets, mostly in Western states.
"Our focus is on the community-based practice with about four to seven physicians and what we call high-dollar specialists," including hematologists, medical oncologists, surgeons and OB/GYNs, Doctor says. "Our physicians pay us not to go after the easy money, but to go after the hard stuff."
PracticeXpert also sells what Doctor calls "technology designed to maximize revenue" as part of its subsidiaries' service packages. It makes its software available for the Pocket PC--personal digital assistants running the Microsoft Windows CE operating system.
Doctor says PracticeXpert is nearing completion of several additional acquisitions. He declined to elaborate.