Kadent Corp., Reading, Pa., a provider of healthcare and other receivables management services, has acquired substantially all of the assets and assumed certain liabilities of not-for-profit, hospital-owned Mutual Hospital Services.
Financial terms were not disclosed. Established in 1958, Mutual was owned by three Indianapolis-area hospitals, providing collection services to the healthcare industry. In addition to the principal ownersClarian Health Partners, Community Hospitals of Indiana, and Sisters of St. Francis Health ServicesMutual serves more than 60 healthcare facilities in four states.
Combined with Kadents nationwide receivables management services, the company expects to process approximately $1 billion over the next year, officials said in a news release. The combined company will serve nearly 800 clients and employ 200 people in three locations. -- by Cinda Becker