Orbotech Subsidiary Announces Acquisition of Correct Claims Now

Orbotech Ltd.

today announced that its subsidiary, Orbograph Ltd., has acquired the assets of Correct Claims Now (CCN) LLC, a privately held company that provides services in the field of Healthcare Revenue Cycle Management. Orbotech's strategic growth plan includes expansion of the Company and its subsidiaries into adjacent and synergistic technologies and industries that capitalize on strong core competencies. While the financial terms of this transaction are not material to Orbotech, this acquisition is in line with these principles. There is a strong demand by healthcare providers for an electronic solution that can replace the existing norm of costly and error-prone manual reconciliation and posting of payments against claims. The integration of CCN into Orbograph will capitalize on the best of both companies' competencies to enable more efficient electronic processing of payments between the healthcare provider and payer. Commenting on the announcement, Mr. Amichai Steimberg, Chief Operating Officer of Orbotech Ltd., said: “This acquisition by Orbograph is consistent with our company's inorganic growth strategy. It leverages Orbograph's core expertise, technologies and customer base. We look forward to Orbograph realizing the full business potential of this large, evolving industry.”