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PASSPORT
ACQUIRES
NEBO
SYSTEMS,
INC.
Company
Poised
for
Continued
Growth
in
Revenue
Cycle
Management
Arena
FRANKLIN,
Tenn.
-
Passport
Health
Communications,
Inc.,
a
health
care
technology
company
based
in
Tenn.,
has
acquired
fellow
revenue
cycle
management
firm
Nebo
Systems,
Inc.,
Oakbrook
Terrace,
Ill.,
along
with
its
claims
consulting
and
outsourcing
subsidiary,
Cosand
Group.
Details
of
the
transaction,
which
closed
in
early
May,
were
not
disclosed.
The
combined
organization
boasts
one
of
the
most
comprehensive
suites
of
products
and
services
in
the
revenue
cycle
management
sector.
Passport
will
add
to
its
already
extensive
array
of
administrative
and
financial
solutions
with
Nebo's
established
claims
management
services,
scripting
expertise
and
other
real-time,
integrated
tools.
Nebo's
reputation
for
exceptional
customer
relationship
building
coupled
with
Passport's
national
footprint
bodes
well
for
the
joint
company's
long-term
growth.
Jim
Lackey,
Passport
chairman
and
CEO,
said,
"The
addition
of
Nebo's
solutions
and
the
talented
people
behind
them
will
allow
Passport
to
offer
our
clients
a
broader
and
deeper
scope
of
services.
By
combining
our
unique
but
complementary
strengths
we
will
be
better
positioned
in
the
marketplace."
Before
the
acquisition
Passport
was
already
among
the
leading
U.S.
companies
providing
revenue
cycle
management
technology
and
services.
Founded
in
1996,
the
nearly
200-person
company
works
with
more
than
4,300
health
care
providers
across
the
country.
Its
services
include
patient
insurance
eligibility
verification,
address
verification,
medical
necessity
compliance
and
credit
card
processing,
among
others.
Nebo,
founded
in
1989,
traditionally
has
had
a
heavy
claims
emphasis
but
has
also
offered
insurance
eligibility
verification,
address
verification
and
other
services
typically
used
in
the
front
end
of
hospitals
and
physician
offices.
The
company
has
a
reputation
for
longstanding
relationships
with
its
approximately
2,500
clients,
the
large
majority
of
whom
are
in
Illinois.
Nebo
employs
about
100
people.
"When
we
started
Nebo
we
had
a
mission
-
to
build
a
strong,
profitable
company
to
help
health
care
providers
in
Illinois,"
said
Walter
Polowczak,
president
of
Nebo.
"For
18
years
we've
held
true
to
that
mission
here
and
in
other
states.
With
Passport
our
reach
will
be
nationwide,
allowing
us
to
develop
the
same
deep
and
lasting
client
relationships
all
over
the
U.S."
Goldman
Sachs
Specialty
Lending
Group,
L.P.
provided
financing
for
the
transaction.
Brentwood
Capital
Advisors,
Nashville,
Tenn.,
served
as
Passport's
exclusive
financial
advisor.
Passport
has
successfully
acquired
and
integrated
three
other
companies
since
2001.
"We
have
aggressive
growth
plans,
and
this
acquisition
creates
opportunities
for
us
to
take
Passport
to
the
next
level
and
provide
even
better
products
and
services
for
our
clients,"
said
Lackey.
About
Passport
Health
Communications,
Inc.
Passport
Health
Communications,
Inc.
is
a
health
care
technology
provider
with
corporate
offices
in
Franklin,
Tenn.,
and
King
of
Prussia,
Pa.
Passport's
products
and
services
are
used
in
more
than
1,500
hospitals
and
2,800
physician
clinics
and
outpatient
centers
in
all
50
states.
The
company
delivers
a
range
of
administrative,
clinical
and
financial
tools
via
real-time,
batch
and
integrated
technology
to
improve
the
efficiency
and
accuracy
of
the
revenue
cycle
process.
For
more
information,
visit
www.passporthealth.com.
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