Cosentus has acquired AllianceMed and its subsidiary, MedCloud Software Solutions (MedCloud). Terms of the transaction were not disclosed.
AllianceMed specializes in in-network and out-of-network billing for Ambulatory Surgery Centers (ASCs), Durable Medical Equipment (DME) companies, and multi-specialty physician groups. MedCloud offers a suite of technology solutions that includes billing software, an EMR tailored for ASCs, and DME management technology, among others. The companies are headquartered in Phoenix, Arizona with a delivery center in India. Alex Cushman, CEO of AllianceMed, said of the transaction, “We are very excited to be a part of the Cosentus family. We see such a strategic fit amongst the teams and are ready to unlock all of the combined potential.”
G.S. Bhalla, CEO of Cosentus noted, “With MedCloud, we are investing in a best-in-class cloud-based practice management solution with highly customizable workflows and reporting capabilities. We also plan to invest in developing AI tools to offer even greater efficiencies to our clients. We are very excited about this acquisition and look forward to working with a great team to help build the platform as part of our broader strategy to become the industry-leading tech-enabled solutions provider to independent physician groups and facilities.”
