MedData Inc., provider of billing and collections services to health care providers, is acquiring Cardon Outreach LLC, which manages patient eligibility, claims and collections services for clients.

MedData, a subsidiary of Mednax Inc. (NYSE: MD) and based in Brecksville, Ohio, will pay $400 million for Cardon Outreach of Woodlands, Texas, and the deal is expected to close within 30 days. Cardon Outreach’s expected 2016 Ebitda is $36 million.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.