The Gores Group, a Los Angeles-based investment firm, announced today that it has completed the acquisition of GE Healthcare Strategic Sourcing from GE Healthcare.
GE Healthcare Strategic Sourcing, headquartered in Wilbraham, Mass., is a leading provider of electronic billing and electronic medical records outsourcing solutions to the healthcare industry. Founded 10 years ago, it provides services to a number of healthcare systems in the United States.
“The Gores Group is excited about the acquisition of GE Healthcare Strategic Sourcing,” said Victor C. Otley, Managing Director for The Gores Group. “We believe this platform offers great opportunity to continue the delivery of quality services using the GE Healthcare technology platform. We look forward to working with management and employees as we build on the services and capabilities as an independent platform.”
Rob Gontarek, the company’s newly appointed CEO, said, “GE Healthcare Strategic Sourcing occupies a unique position in the market, with the ability to provide top-tier electronic medical record and outsourced revenue cycle management to very large multispecialty physician groups. The existing management team’s expertise and state of the art technology provides an exciting opportunity for growth.”
Terms of the transaction were not disclosed.
The company will operate under the name Meridian Medical Management.
GE Healthcare is a division of GE Technology Infrastructure, which is a division of General Electric. It has about 45,000 employees worldwide.