July 25, 2007 — Picis has entered into a definitive agreement to acquire LYNX Medical Systems.
LYNX provides revenue cycle management solutions to hospital emergency departments and Picis provides the market-leading clinical information system for emergency care. The combined companies will now offer a reportedly powerful solution that provides the most comprehensive end-to-end system to manage, automate and optimize both the clinical information and financial functions of hospital emergency departments.
Terms of the agreement were not disclosed. The acquisition, anticipated to close later this summer, was funded in part by Goldman Sachs & Co. through an equity investment in Picis and a senior debt issue.
The two companies' combined expertise and solutions will create the most robust integrated end-to-end solution that closely links clinical documentation with coding and reimbursement revenue management, according to a Picis press release.
In essence, the combined solution will track patients from initial contact through disposition, and help hospitals to realize maximum revenue and reimbursement for the services they provide. The solution is specifically designed for the needs of the hospital emergency department, one of the fastest growing departments in today's hospitals.
By combining ED PulseCheck's clinical care information system with LYNX's coding optimization software and services, hospitals will more efficiently align the actual patient care delivered with accurate and correct coding and billing, helping to increase both professional fees and facility revenue, and thereby reducing billing cycles.