Spokane Journal of Business

Healthcare Resource Group acquired

Valley company bought by publicly traded industry service provider

  • Print Article

Spokane Valley-based Healthcare Resource Group Inc. has been acquired by Computer Programs & Systems Inc., a health care company based in Mobile, Alabama. 

Computer Programs & Systems, which does business as CPSI, announced the acquisition in a press release issued March 1. 

Terms of the acquisition weren’t disclosed in the release, and a representative of CPSI couldn’t be reached immediately for comment.

Healthcare Resource Group provides revenue cycle management and consulting services.

Those services include third-party medical billing, remote medical coding, prior authorization services, account management, and payment plan administration.

Headquartered at 12610 E. Mirabeau Parkway, in Spokane Valley, the company was launched in California in 1994 as primarily a provider of accounts receivable staffing and consulting services for hospitals.

According to Healthcare Resource Group’s website, the company has about 400 employees and serves 77 health care clients, most of which in the Pacific Northwest and the southwestern U.S. Clients include independent hospitals with more than 200 beds, tribal organizations, and academic medical centers.

CPSI is parent to five companies that provide services to community hospitals, clinics, and post-acute care facilities. Such services include information technology, medical coding software, and electronic health recordkeeping. 

CPSI’s subsidiaries include Evident LLC, American HealthTech Inc., TruBridge LLC, iNetXperts Corp., and TruCode LLC. 

CPSI was founded in 1979. Since 2013, CPSI has created two subsidiary companies and acquired four others, including Health Care Resource Group.

In the release, CPSI chief financial officer Matt Chambless says the acquisition will help CPSI handle revenue cycle outsourcing operations more effectively.

“Healthcare Resource Group is a great strategic fit for CPSI, and this transaction supports our goal to complete accretive acquisitions that complement our growth strategy with a stable client base and high mix of recurring revenues,” Chambless says.

CPSI trades on the Nasdaq stock exchange under the symbol CPSI. As of market close on March 7, CPSI was trading at $34.43 a share. In the past 12 months, CPSI’s stock has traded at $27.60 to $37.25 a share.

Virginia Thomas
  • Virginia Thomas

  • Email Virginia Thomas
  • Follow RSS feed for Virginia Thomas

Reporter Virginia Thomas has worked at the Journal since 2017 and covers the health care industry. As a reporter, she loves learning about Spokane's many growing industries. She enjoys travelling with her husband, snuggling with her cats, and cross stitching.

Read More

Sign up for our E-mail updates

including the
Morning Edition

Join our list