XIFIN, the San Diego-based revenue cycle management firm, went above and beyond the call of duty for one of its clients: It acquired it in a deal that closed last month. XIFIN will use the acquisition of Irvine, Calif., PathCentral to expand its technological capabilities, according to Lâle White, XIFIN’s chief executive officer. The terms of the deal, which was completed on Aug. 9, were not disclosed. Ten of PathCentral’s 14 employees were retained by the 210-employee XIFIN, although CEO Jaye Connolly was not among them, according to White. PathCentral will maintain its current corporate office, which is about a 90-minute drive from XIFIN’s. White said that PathCentral became attractive to XIFIN after PathCentral sold its laboratory to Ascend Clinical late last year. “At that point, they only had the technology piece remaining,” White said, adding that XIFIN has no interest in acquiring its lab. PathCentral’s cloud-based laboratory and anatomic pathology and molecular diagnostics laboratory information system was particularly attractive to XIFIN, as well as its information exchange system that allows medical specialists to upload and share files for electronic consultations and second opinions. XIFIN had provided consulting services to PathCentral in setting up its network and servicing its laboratory. […]
XIFIN, the San Diego-based revenue cycle management firm, went above and beyond the call of duty for one of its clients: It acquired it in a deal that closed last month.
XIFIN will use the acquisition of Irvine, Calif., PathCentral to expand its technological capabilities, according to Lâle White, XIFIN’s chief executive officer.
The terms of the deal, which was completed on Aug. 9, were not disclosed. Ten of PathCentral’s 14 employees were retained by the 210-employee XIFIN, although CEO Jaye Connolly was not among them, according to White. PathCentral will maintain its current corporate office, which is about a 90-minute drive from XIFIN’s.
White said that PathCentral became attractive to XIFIN after PathCentral sold its laboratory to Ascend Clinical late last year.
“At that point, they only had the technology piece remaining,” White said, adding that XIFIN has no interest in acquiring its lab.
PathCentral’s cloud-based laboratory and anatomic pathology and molecular diagnostics laboratory information system was particularly attractive to XIFIN, as well as its information exchange system that allows medical specialists to upload and share files for electronic consultations and second opinions. XIFIN had provided consulting services to PathCentral in setting up its network and servicing its laboratory.
“Many of our molecular clients are on [PathCentral’s network], and it’s the only product that works extremely well for molecular testing, as well as anatomic pathology clients. This product suits them both extremely well,” White said.
PathCentral’s client list included Johns Hopkins University School of Medicine, University of Nebraska Medical Center, Massachusetts General Hospital, Penn Medicine, the University of Southern California, and Kindstar Global, a Chinese laboratory, which provides services to about 3,300 hospitals in China. PathCentral launched its online network back in March.
The eventual goal of the acquisition is to integrate PathCentral’s data-sharing capabilities with XIFIN’s own portal, according to White.
“Our long-term objective is to use a portal not just for revenue cycle management but physician collaboration,” she said. “It will help in the decision support arena.”
Takeaway: XIFIN is seeking to create an all-in-one portal solution for its clients with its acquisition of PathCentral’s technology.
