Group broadens offering to care customers with acquisition of UK’s leading medical billing solution provider
Civica, a global leader in software for public services, has entered into an agreement with ASX-listed ICS Global Ltd to acquire Thelma-EU Ltd, ICS’ UK medical billing and collections subsidiary trading as Medical Billing and Collection.
Medical Billing and Collection is the UK’s number one medical billing service provider to the independent healthcare sector. Founded in 1992, the Buckinghamshire-based company currently works with around 1,500 consultants spread across groups, clinics and hospitals. Its tailored medical billing and collection services reduce bad debts to an average of 0.5%, improve operational efficiency leading to an increase of net income by up to 25% and free up more time for care professionals to focus on patients.
The acquisition will see Civica strengthen its position in the UK health and care market. It will add new medical billing and collection capability to its existing health and care software business and support annual care billing across the Group of more than £3 billion. The new capability will help customers manage efficient billing and recovery of debt.
Medical Billing and Collection offers e-billing of medical insurers and patients, with collection via a client self-pay platform and ability to manage card payments 24/7. Its cloud software allows easy reporting for consultants to better manage their practice with improved data enabling better decision making.
Wayne Story, Civica CEO commented:
The acquisition will mean we can offer even broader solutions to our combined care customers. At a critical time for care services around the UK, we look forward to supporting the sector with improved efficiencies and ultimately better patient care.
Garry Chapman, Executive Chairman at Medical Billing and Collection commented:
We are delighted to be joining the Civica Group this year. Our combined software and care sector experience will offer even more to our customers in 2021, putting us in an excellent position to understand the effects of dynamic changes currently taking place in the market.
Under the terms of the agreement, completion of the sale is expected to take place in late February 2021.
With a 30-year + track record in the health sector, Civica delivers software solutions to over 500 customers across the NHS and private care sector globally: from electronic prescribing and patient records to enhanced workforce efficiency. The company provides cloud delivery to more than 20,000 clinicians.