Market Overview

SpendMend Expands Services with Acquisition

Share:

SpendMend Expands Services with Acquisition

PR Newswire

GRAND RAPIDS, Mich., Aug. 20, 2018 /PRNewswire/ -- SpendMend (formerly BSI Healthcare) announced today that they have agreed to terms to acquire Contract Management Strategies (CMS) with offices in Los Angeles, CA.  Clayton Hale founded CMS in 2002 and has been performing recovery audit and other professional services for its clients since then.  CMS client services include Accounts Payable Recovery Audit, Sales & Use Tax Audit and Consulting, Pharmacy Audit & Price Reduction, Medical Device Audit and Medical Device Tracking and a local Utility Assessment Recovery service.   

"We are pleased to be able to bring the two organizations together," commented Dan Geelhoed, CEO of SpendMend.  "Combining the two organizations brings the SpendMend Technology, Spend Visibility and Analytics to the CMS client base, expands the CMS services to the SpendMend clients, and adds a very talented group of professionals to our team."

Clayton Hale, President, and CEO of CMS agreed, "Our current clients will benefit from the SpendMend infrastructure and proprietary audit processes combined with the health care recovery areas unique to CMS.  The combination results in a broader and more efficient consulting experience for all of our clients."

Rob Heminger, President of SpendMend, added, "Partnering with the CMS team not only creates tremendous synergy but also allows SpendMend to deploy deeper Spend Visibility into more categories within each Health System."

Since 1993, SpendMend has been the leading provider of Spend Visibility and Analytical Insights funded through Recovery Audit for the healthcare industry. Sean Dempsey, Partner with Sheridan Capital Partners, commented, "We partnered with SpendMend in January 2018 to help advance the Company's market-leading position in audit recovery and accelerate its growth plan to offer a broader suite of cost optimization solutions to its customers.  The CMS acquisition is a first step forward in SpendMend's growth strategy and further expands its service offering into the tax, medical device and pharmacy business segments." 

Contact: Michael Koory, 616-588-8268, mkoory@spendmend.com

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/spendmend-expands-services-with-acquisition-300699170.html

SOURCE SpendMend

View Comments and Join the Discussion!