Knack Global LLC, a Woodbridge-based health care revenue cycle management company, announced Wednesday it has completed its acquisition of STAT MedCare Solutions LLC, a provider of credentialing and payor enrollment, also based in Woodbridge.
This acquisition, Knack said, will allow its clients a place for all of their credentialing, provider enrollment, rate negotiation, medical licensing and revenue cycle management needs.
“We are aware that our clients were seeking the addition of credentialing and rate negotiation capabilities to our suite of offerings, and this acquisition positions Knack very well as a provider of end-to-end services for our clients’ business needs. We believe our clients will clearly derive benefit from the differentiation that Knack has created from its competition,” Rajiv Sharma, founder and president, Knack Global, said.
“With this acquisition, STAT Medcare will be in a position to service more clients, provide more of the services and solutions that our clients have been requesting, including immediate access to revenue cycle management, all within one company. We are thrilled about this new partnership and look forward to working with Knack and growing our business together,” Cynthia Young, founder and CEO, STAT MedCare, said.
CEO ally Inc. acted as the advisor to Knack in the deal. Financial terms of the deal were not disclosed.