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Navigant buys firm that manages revenue for doctors, hospitals

Navigant Consulting Inc. will pay up to $100 million for Cymetrix Corp., which specializes in processing patient billings and insurance claims for hospitals and healthcare networks.

Chicago-based Navigant will add the Irvine, Calif., company to its Navigant Healthcare division and operate it as Navigant Healthcare Cymetrix.

Navigant paid $75 million for the privately held company and will pay up to another $25 million depending on how the company performs. Cymetrix employs about 600 people.

“The acquisition of Cymetrix aligns with our strategic growth plans and is transformative for Navigant – creating new opportunities for us to evolve and expand our business platform beyond consulting services,” said Julie Howard, Navigant chairman and chief executive officer.

Cymetrix CEO Michael Halberda will continue to lead the company’s day-to-day operations.

h/t chicagobusiness.com