The Outsource Group Acquires Medical Claims Collection Agency

The Outsource Group (TOG), a leader in healthcare receivables management, announced yesterday that it has acquired  Specialized Receivables, Inc. (SRI), a Third-Party Liability collection agency headquartered in Wakefield, MA.

Financial details of the deal were not disclosed.

SRI focuses solely on collections and billing for worker’s compensation and motor vehicle accident claims.  SRI touts itself as the leader in accident claims medical billing.  TOG, headquartered in St. Louis, MO, is an ARM company that specializes in insurance resolution, early out receivables management, and bad debt collections for healthcare providers across the U.S.

SRI CEO Sam Rotondi said in a news release, “We have been looking for a partner to help us expand as we take our business model to a national level and continue to invest in technology to better serve our clients. Finding a partner like TOG that understands and complements our business was an ideal fit.” Rotondi will remain President of SRI and will focus on client management and new business development.

Lou Molettiere, SRI’s COO, will also continue in his operations role. He commented, “As our name suggests, our services are very specialized, so the merger will enable TOG’s clients to benefit from our 20+ years of success processing over 1.5 million claims representing more than $1 billion in motor vehicle and industrial accident claim payments.”

Michael DiMarco, CEO of The Outsource Group, also commented in the release, “The merger of these two companies creates a more robust foundation from which to launch even more services, facilitate organic growth, and integrate future strategic acquisitions of healthcare ARM companies.  This merger is one of five we have executed in the past three years — with other synergistic acquisitions in negotiation right now — that will enable TOG to meet the unique and specific needs of all healthcare clients in all parts of North America.”

The newly-expanded company will have offices in Wakefield, MA; Austin, TX; and three locations in Missouri: St. Louis, Florissant, and Columbia.