Firmament-Backed Panacea Acquires KA Consulting, Expanding Eligibility Determination and Revenue Integrity Capabilities

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Sep 17, 2024, 08:45 ET

NEW YORK, Sept. 17, 2024 /PRNewswire/ -- Firmament-backed Panacea Healthcare Solutions (the "Company"), a leading provider of healthcare financial and clinical software and tech-enabled services, announced today the acquisition of CBIZ KA Consulting Services, LLC ("KA Consulting"), a provider of eligibility, clinical coding and auditing, and revenue integrity solutions to U.S.-based hospitals and healthcare systems. The acquisition will enhance and expand Panacea's ability to deliver comprehensive financial, revenue integrity, compliance, and clinical products and services to healthcare organizations nationwide.

As part of the acquisition, the executive leadership team from KA Consulting will be integrated into Panacea. George Kelley, Chief Operating Officer of KA Consulting, will assume the role of President of Panacea's newly created KA Consulting division. With George's leadership and the support of the KA Consulting team, Panacea will significantly enhance its capacity to serve the evolving needs of healthcare providers across the country.

"I'm thrilled to bring together two firms with such deep expertise and commitment to their customers. Panacea and KA have long been complementary firms serving a similar customer base. Through this combination, our clients will gain greater access to the most comprehensive suite of revenue-oriented products and services available," said Kevin Chmura, Panacea's Chief Executive Officer.

"This acquisition solidifies Panacea's role as a premier provider of comprehensive financial, revenue integrity, and compliance program management. We are excited to welcome the KA Consulting team to the Panacea family and look forward to continuing to support Panacea's mission long into the future," said Green Campbell, Principal at Firmament.

About Panacea
Panacea (www.panaceainc.com) provides revenue integrity software and services to more than 600 hospitals and health systems nationwide, enabling healthcare providers to optimize and manage their pricing strategy, pricing transparency & integrity, claims & reimbursement, and compliance training.

About KA Consulting
KA Consulting (https://kaconsults.cbiz.com) provides eligibility services, clinical coding and auditing services, and revenue integrity solutions to U.S.-based hospitals and healthcare systems.

About Firmament
Firmament (www.firmament.com) provides control equity, minority equity and growth debt capital to lower-middle market businesses primarily in three core industry verticals: Technology, Healthcare and the Environment. Within these verticals, we make investments in service, software and specialty-manufacturing companies with significant scaling potential. We seek to be a value-added partner to entrepreneurs, management teams, and business owners, and curate solutions by deploying versatile capital in a user-friendly way. With offices across the United States, Firmament is focused on turning small business into big business.

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SOURCE Firmament