Brentwood-based HCTec has sold its health information management division to Dallas-based GHR Healthcare.
Started in 2012 and based in Tampa, Florida, the 25-person HIM division provides revenue cycle workforce optimization solutions including coding, clinical documentation improvement and case management. As part of another acquisition several years ago, HCTec added the HIM business line as a complement to its core health tech capabilities, according to a press release.
Terms of the transaction with GHR were not disclosed. HCTec officials declined to comment on how the sales will be reinvested into their core business. In a release, HCTec said the move solidifies its position in the market as a pure-play HIT and managed services organization.
"We have built an energetic, prosperous organization over the past eight years and have an experienced, tenured team," said Barry Matthews, current manager of the group who will continue to lead the division as vice president. "To me, this is a win-win scenario. We are able to maintain our focus on the revenue cycle needs of our clients, while increasing the level of support, services and workforce solutions we can deliver."
Founded in 2010 and led by former PureSafety CEO Bill Grana, HCTec will have more than 300 in-house employees post-divesture. With outside consultants, Grana estimates their total man power reaches nearly 600 employees.