Mednax Inc. (NYSE: MD) is buying MedData Inc. from Baird Capital.
MedData, headquartered in Fort Lauderdale, Florida, provides technology revenue-cycle services, including coding, billing and collections.
Mednax has already been using MedData's services, and the company says the acquisition should allow it to increase its presence across the health care landscape. The buyer is made up of physician groups that focus on neonatal, anesthesia, maternal-fetal, pediatric cardiology and other pediatric physician services.
Health care groups have been buying technology companies to drive cost savings as the Affordable Care Act brings in more patients. For more, see "5 Technologies Drive Health Care M&A."
Mednax's recent acquisitions include Fredericksburg Anesthesia Associates Inc. in April and Summit Anesthesia Associates PA in January. The group has been one of the companies consolidating the physician group sector. For more, see "ACA Reshuffles the Deck."
Baird Capital, the private investment arm of Robert W. Baird & Co., has recently made several divestments, including selling Frontage Laboratories Inc. to Hangzhou Tigermed Consulting Co. Ltd., and American Auto Auction Group to Huron Capital Partners.