NAPERVILLE, Ill., Oct. 1 /PRNewswire/ -- Viant Holdings, Inc., a leader in healthcare payment and cost management solutions, today announced that it acquired Texas True Choice, Inc. for $54 million, consisting of $44 million in cash consideration and shares of Viant Holdings, Inc. common stock. The acquisition will expand Viant's PPO network offerings in the group health market and enhance its existing lines of services to the nation's leading health plans, insurers and third-party administrators.
Founded in 1996, Texas True Choice, headquartered in Plano, Texas, is a highly respected Preferred Provider Organization (PPO) with over 350 acute care hospitals and 36,000 physicians in their network, providing access to over 2,100 employers representing 820,000 members statewide. Texas True Choice, in conjunction with the Viant provider networks, including Beech Street and ppoNEXT, will now provide access to an estimated 525,000 healthcare providers nationally.
Commenting on the announcement, Viant Holdings CEO, Daniel J. Thomas, said, "It is clear Texas True Choice is one of the best performing PPO networks in Texas, with an excellent reputation, strong leadership and significant brand identity. This transaction reflects our ongoing commitment to invest in our network services business, in response to our customers needs for increased coverage, especially in key states such as Texas." Adding, "Michael Wilson and his team have done a great job building a leading PPO network in Texas with prospects for continued growth and performance enhancement."
Michael Wilson, Founder, President and CEO of Texas True Choice added "We are very excited about the opportunity to join Viant. Collectively, Texas True Choice and Viant will create a significant advantage for our clients and network providers. Combining a best in class local/regional network with Viant's national presence creates tremendous opportunity to enhance the local market while quickly building on Viant's national network".
About Viant Holdings, Inc.
Viant Holdings (formerly Concentra Network Services includes Beech Street Corporation and ppoNEXT), provides healthcare payment solutions through primary and supplemental networks, integrated network and contract management, specialized cost containment strategies and post payment recovery services to the U.S. health insurance industry in both the public and private sectors. Viant's comprehensive and effective cost management strategies focus on timely, accurate and fair payment for providers, payers and patients. Please call 630.649.5272 for inquiries.
About Texas True Choice
Texas True Choice, Inc. is one of the largest independently owned Preferred Provider Organization (PPO) networks in Texas offering a quality network of hospitals, physicians and other providers to more than 820,000 members throughout the state.
|SOURCE Viant Holdings, Inc.|
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