Contexo Media, a provider of public health and human services data and information, announced the acquisition of the Medical Management Institute (MMI), a provider of medical coding guidelines and journals on June 9.
Contexo provides databases that help connect an informed intermediary (usually the government or other social welfare organizations) with services delivery for people in need. MMI provides annually updated insurance coding references to insurance companies, hospitals, universities, and private practices.
"This acquisition will gus us an opportunity to expand into the coding space," says Richard Rupert, vice president of sales and marketing at Contexo. "We believe that our expert approach to development of referential material-elegant, simple, easy to use-has as much application in the medical coding business as it does in the other markets we serve."
Six executive managers at Contexo have, combined, over 80 years of experience in the medical coding industry. Veronis Suhler Stevenson Mezzanine partners, L.P. provided mezzanine financing to help fund the transaction. Whitestone Communications served as financial advisor. Terms of the deal were not disclosed.
