Status: Clearance or No Action
Acquirer: AGS Health LLC (U.S.); AGS Health Private Limited (India)
Acquired: Mediscribes Solutions, Inc. (U.S.)
Value: $56 million
Industry Tags: Software; Healthcare
On September 21, 2021, pursuant to an August 1, 2021, Securities Purchase Agreement, AGS Health LLC, a provider of revenue cycle management solutions for U.S. healthcare providers and an affiliate of AGS Health Private Limited, a company organized under the laws of India, acquired all the issued and outstanding capital stock of Mediscribes Solutions, Inc. (d/b/a ezDI Inc.), a Kentucky corporation providing “computer-assisted coding (CAC) to support healthcare providers with revenue cycle management.” (AGS Health Press Release, AGS Health acquires AI-based clinical documentation and medical coding technology provider, EZDI, Sept. 21, 2021; see Securities Purchase Agreement, Exhibit A to Compliant in Chetan J. Parikh vs AGS Health, Docket No. N23C-06-033, Del. Super. Ct. Jun 02, 2023.) According to the Securities Purchase Agreement, the parties were required to submit either a declaration or notice filing and obtain “CFIUS Approval,” which included a finding by CFIUS that it has “determined that there are no unresolved national security concerns” or that it is “unable to conclude action under Section 721” on the basis of a declaration filing. (see Appenix A to Securities Purchase Agreement, Exhibit A to Compliant in Chetan J. Parikh vs AGS Health, Docket No. N23C-06-033, Del. Super. Ct. Jun 02, 2023.)
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