One provider network company has closed on a deal for another provider network company.
MultiPlan Inc., New York, says it has completed a previously announced acquisition of Private Healthcare Systems Inc., Waltham, Mass.
PHCS, which was owned by a consortium of managed care companies, has a network with 450,000 provider offices that serve 16 million patients.
The MultiPlan network has contracts with 700,000 provider offices that service 27 million patients.
The acquisition will give about 40 million U.S. residents access to the combined networks, MultiPlan says.
The combined company will offer fee negotiation services, care management, a claim transaction and information management engine, and specialty networks as well as general-purpose provider networks, MultiPlan says.
Assurant Inc., New York, one of several companies that previously owned PHCS, reported that it obtained $146 million in net proceeds from the deal.