WellPoint, Indianapolis, today announced that it will acquire the radiology benefits management company American Imaging Management for approximately $300 million in cash.
Use of AIMs radiology referral review software is expected to reduce WellPoints annual spending on imaging claims by 15% to 30%, according to WellPoint spokesman James Kappel, who declined to reveal the company's annual spending on radiology services. The software will allow physicians to identify covered providers and appropriate diagnostic tests for specific conditions, he said.
In terms of the financial impact on WellPoint, this is an acquisition that we expect to be accretive beginning in 2008, Kappel said.
Terms of the deal call for WellPoint to take ownership of Imaging Management Holdings, the Deerfield, Ill.-based parent company of American Imaging. WellPoint officials expect the acquisition to close during the third quarter of 2007 following customary regulatory review. -- by Shawn Rhea