Charlotte-based ImagineSoftware acquires Exchange EDI to expand medical billing automation software

August 04, 2022:- ImagineSoftware™ is acquiring Exchange EDI, the Charlotte-based company disclosed this week in a statement.

According to the statement, the company is encountering “substantial growth,” and the acquisition will build on the company’s mission to bring software solutions to customers.

“With our collaborative technology and the insights it provides, we are uniquely placed on improving communication between providers and their patients,” stated Sam Khashman, president and CEO of ImagineSoftware, in the statement.

The combined software is anticipated to enhance the company’s ability to “optimize patient billing and collections functionality” for medical industry consumers.

“Our two institutions already have amazing synergy and have long worked concurrently side-by-side in health care technology,” expressed Patti Velasco, CEO of Exchange EDI, in a statement. “Both institutions are passionate about leveraging technology to enhance the RCM process. By coming together, we will be able to increase the efficiencies we can assemble.”

The organization took on a strategic investor in November 2021 to expand the firm’s team and seek further growth. And while the investor came on board, the company’s previous backer exited their position. The financial conditions of the deal were not disclosed