Corridor Announces the Acquisition of Select Data's Outsourced Services Business Unit
Overland Park, KS – January 19, 2023 – The Corridor Group Holdings, LLC (Corridor) announced today that it has acquired the outsourced services business unit of Select Data, LLC. With this transaction, Corridor will provide tech-enabled coding & clinical documentation review services to the clients of the acquired business unit. Select Data will remain an independent business focusing on its SmartCare™ healthcare AI solution, which transforms post-acute documentation review and coding to achieve quality clinical and financial outcomes.
In connection with the transaction, Corridor will commence extensive use of SmartCare, combining Corridor's existing best in class tech-enabled services with Select Data's unique AI technology.
"Select Data is an innovative service provider with expert staff and an excellent reputation," said Des Varady, Chief Executive Officer of Corridor. "Corridor's unique ability to deliver quality services at scale will bring added value to Select Data's clients."
The dynamic post-acute market in which home health and hospice providers operate has been impacted by reimbursement, compliance and reporting pressures. The joint capabilities of Select Data and Corridor create unique value for post-acute healthcare providers, helping them achieve great quality clinical and financial outcomes in a challenging environment.
"Corridor has an excellent reputation for delivering quality services using innovative technology, and I have no doubt in Corridor's continuing ability to deliver for our company's long-time services clients," said Ed Buckley, CEO of Select Data.
Corridor is a portfolio company of HealthEdge Investment Partners, a Tampa, Florida based private equity firm focused on investing in lower middle market healthcare companies.
About Select Data
Select Data is a healthcare technology company based in Anaheim, California, founded in 1991. Select Data is leading the industry by leveraging the power of artificial intelligence (AI) with its SmartCare™ platform. Purpose-built for the challenges of post-acute care settings, SmartCare™ uses AI components such as Natural Language Processing (NLP), Machine Learning, and Deep Learning to serve up fundamental information targeting the full spectrum of clinical teams, from field staff to back-office clinical reviewers. Select Data is committed to quality and innovative data platform solutions that drive successful outcomes. For more information, visit https://selectdata.com/.
About Corridor
Founded in 1989, The Corridor Group Holdings, LLC (Corridor) is a leading provider of outsourced coding, revenue cycle and education solutions to the post-acute healthcare industry. Since inception, Corridor has delivered solutions to thousands of clients ranging from large health systems and national chains to smaller, independently operated agencies. For more information visit www.corridorgroup.com.
About HealthEdge Investment Partners
HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience, and network of relationships of its partners. HealthEdge's partners have more than 100 years of combined operating experience in healthcare as operators and investors.