The company is experiencing “significant growth,” according to the statement, and the acquisition will build on the firm’s mission to bring software solutions to clients, according to the company’s statement.
“With our combined technology and the insights it provides, we are uniquely positioned to improve communication between providers and their patients,” said Sam Khashman, president and CEO of ImagineSoftware, in the statement.
The combined software is expected to enhance the company’s ability to “optimize patient billing and collections functionality” for medical industry clients.
“Our two companies already have amazing synergy and have long worked together side-by-side in health care technology,” said Patti Velasco, CEO of Exchange EDI, in a statement. “Both companies are passionate about leveraging technology to improve the RCM process. By joining forces, we will be able to expand the efficiencies we can create.”
The company took on a strategic investor in November 2021, in part to expand the firm’s team and to seek further growth. And while the investor came on board, the company’s previous backer exited their position. Financial terms of the deal were not disclosed for either deal.