Cotiviti to acquire Edifecs, enhancing healthcare data interoperability
SALT LAKE CITY: Cotiviti, a leader in data-driven healthcare solutions, announced today that it has entered into an agreement to acquire Edifecs, a pioneer in healthcare data interoperability.
The combined platform aims to enhance connectivity between payers and providers, increase collaboration in the delivery of care, and accelerate the deployment of value-added solutions within the healthcare system.
Operating under the Cotiviti brand, the merger will enable clients to accelerate key business objectives and achieve meaningful improvements in efficiency and quality of care. Emad Rizk, M.D., Chairman, President, and CEO of Cotiviti, will lead the combined company.
“Cotiviti and Edifecs share a common goal of fostering a high-quality and viable healthcare system,” said Dr. Rizk.
“This acquisition will provide enhanced value to our clients by combining our talented teams and advanced technology to increase focus on interoperability, enable value-based care, and streamline health plan operations, all to improve both patient outcomes and the sustainability of healthcare.”
Venkat Kavarthapu, Chief Executive Officer of Edifecs, added, “Edifecs’ interoperable cloud solutions support connectivity and collaboration across payers and providers, unlocking value and enabling more effective member care. Efficient data and information access and exchange are essential to improving transparency and reducing administrative waste. We look forward to enhancing our solutions by combining with Cotiviti’s high-performing solutions.”
The transaction is subject to customary regulatory approvals before closing. Financial advisory services were provided to Cotiviti by Goldman Sachs & Co. LLC and TripleTree, while legal counsel was provided by Gibson Dunn. Financial advisory services were provided to Edifecs by J.P. Morgan Securities LLC and William Blair & Company, LLC, with Kirkland & Ellis LLP providing legal counsel.
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