MediRegs, Inc. Acquires the Compliance Products of IHS Health Group, Expands Library of Resources for the Medical Compliance and Reimbursement IndustriesMediRegs, Inc. Acquires the Compliance Products of IHS Health Group, Inc.
(PRWEB) October 11, 2002
Somerville, Mass., October 7, 2002—MediRegs, Inc., the leading provider
Of
Innovative electronic compliance and reimbursement products, announced
Today
It has entered into a definitive agreement to acquire the assets of the
IHS
Health Group, a worldwide supplier of healthcare industry information.
This
Acquisition extends a long-standing relationship between the companies
And
Consolidates MediRegs leadership position in healthcare and life
Science
Regulatory compliance. The terms of the agreement were not disclosed.
“The clients of both IHS Health and MediRegs will benefit financially
And in
Operational efficiency from having the most comprehensive, up-to-date,
And
Easy-to-use compliance and reimbursement products at their fingertips,”
Said
Sandy Friedman, president of MediRegs. “We believe that this is an
Ideal
Arrangement for the hospitals, law firms, pharmaceutical companies,
Medical
Device manufacturers, insurance companies, physicians groups, billing
Companies and other clients who rely on the products and services of
IHS
Health and MediRegs.”
“We have been working with MediRegs for a number of years,” said Randy
Weil,
President and COO of IHS Engineering. “We believe that MediRegs has
The
Technical know-how to take compliance and reimbursement solutions to
The
Next level of performance and utility. We have every confidence that
MediRegs will play a pivotal role in bringing greater productivity and
Efficiency to organizations of all types involved in the
Life-sciences.”
“Advances in medicine are driving new legislation and regulation,”
Continued
Mr. Friedman. “This coupled with the complexity of being in compliance
With
The Health Insurance Portability and Accountability Act (HIPAA),
Emergency
Medical Treatment and Active Labor Act (EMTALA), and Ambulatory Payment
Codes (APCS) and other recent legislation inspired MediRegs to create a
New
Generation of more user friendly compliance solutions.”
MediRegs is able to offer clients customizable compliance solutions
From an
Inventory of approximately 1,000 electronic databases. Internet clients
Are
Able to use the MediRegsÂ’ software to customize compliance solutions
From
The individual desktop to the overall organization. The MediRegs
Software
Manages the myriad external databases and also serves as a publishing
Platform for internal policies, procedures and other related regulatory
Information. The result is a one-stop clearinghouse configured to the
Unique
Requirements of each organization.
IHS Health Internet products have been operating on the MediRegs
Technology
For two years and are used daily by all IHS Health Internet
Subscribers.
Clients of the IHS CD-ROM products will continue to receive their
Subscription products with no interruption in service.
MediRegs will offer Internet based orientation and training on all
Products
Beginning in October 2002. IHS clients seeking technical support,
Education, training or administrative assistance should contact
MediRegs at
(800) 808-6800 or support@mediregs. com.
About MediRegs
MediRegs has developed a unique software capability that enables
Companies
And individuals to tailor the compliance solutions they want
Interactively.
The goal of the MediRegs design is to make it possible to meet the
Compliance needs of any job function in health care. This approach
Offers
The most efficient and affordable way to keep people at all levels
Current
With compliance and reimbursement information.
About IHS Group
With over $400 million in annual sales, Denver-based IHS is the
Worldwide
Leader in developing and implementing engineering, technical and
Regulatory
Information solutions for customers in over 90 countries. IHS produces
Comprehensive collections of technical standards, design guidelines,
Vendor
And logistics information, energy exploration, health and regulatory
Data,
Production knowledge and information, and software tools. IHS
Solutions
Include CD-ROM and Internet subscriptions, customized solutions such as
Data
Conversion, information portals and systems integration, and hardcopy
Documents via Global Engineering Documents. The company employs more
Than
2,700 people worldwide and serves the vital information needs of
Customers
Across the world's technical, business and professional sectors. IHS
Is
Ranked seventh in the Denver Business JournalÂ’s (DBJ) list of Top 100
Largest Colorado Private Companies. If you require additional
Information
On IHS and its products and services, visit www. ihs. com.
