HealthXL has acquired LinkedMD, in a deal that fully establishes HealthXL’s presence in the Tampa Bay market.
Financial terms of the acquisition were not disclosed in a release announcing the deal.
Both HealthXL and LinkedMD provide chronic care management services, a sector that is growing with the aging population and advances in disease treatment.
The Centers for Medicare & Medicaid Services recognizes those services as a critical component of primary care and in 2015, Medicare began paying separately for the services furnished to Medicare patients with multiple chronic conditions.
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LinkedMD, based in Tampa, was co-founded by Holly Corral, Laura Heiderman and Allen Clifford, and offers chronic care management services to individual medical practices, medical groups, hospitals and accountable care organizations. The company has grown from about 250 clients in 2016 to 3,000 clients currently, according to its website.
HealthXL serves a similar group of clients, and the addition of LinkedMD allows HealthXL to expand its footprint, said Mark Whittington, managing director of HealthXL.
Whittington previously was CEO of Acclaris Inc., a Tampa-based health technology company, although he left Acclaris by the time it was purchased by Towers Watson in 2015 for $140 million.
Joining HealthXL allows LinkedMD to enhance its current services, said Heiderman, who is chief operating officer.
Holly Corral, who was CEO of LinkedMD, will consult with the new company, but is focusing on PRESS, a PR and marketing agency where she is president and CEO.
HealthXL has offices in both Tampa and Detroit, and is part of Jackson Dawson, a branding company based in Detroit.
Date: September 14, 2018
Source: Bizjournals