VerityStream, f/k/a Verity, a provider of enterprise-class solutions for credentialing, enrollment, privileging, and evaluations for healthcare organizations across the U.S., acquired CredentialMyDoc, a Savannah, Georgia-based provider of web-based Software for credentialing and provider enrollment, for approximately $9.0 million in cash, subject to a post-closing working capital adjustment.
The acquisition bolsters VerityStream’s leadership position in the outpatient facility market segment.
The company adds more than 300 clients, including multi-specialty medical groups, ambulatory surgery centers, clinics, and federally qualified health centers (FQHCs), among others.
Owned by Covenant Technology Group, LLC, CredentialMyDoc provides Software-as-a-Service solutions to credential providers, enroll providers with payers for reimbursement, and apply and maintain privileges. Led by Michael J. Sousa, President, VerityStream is a wholly owned subsidiary of HealthStream (Nasdaq: HSTM), which currently serves over 2,500 hospitals and 1,300 outpatient facilities including ambulatory surgery centers, urgent care facilities, clinics, medical groups, and more.
The company has over 200 employees spanning headquarters in Boulder, Colorado and satellite offices in San Diego, California; Nashville, Tennessee; and Chicago, Illinois.