CorroHealth completes acquisition of Navient’s healthcare RCM business, Xtend

CorroHealth, a healthcare technology and revenue cycle management (RCM) services company, has completed the acquisition of Navient’s Xtend healthcare RCM business.

This strategic move is intended to enhance CorroHealth’s RCM consulting and technology capabilities.

The transaction was initially agreed on August 13, 2024.

According to the original announcement, the deal was valued at $365 million in cash, subject to certain customary adjustments.

As of June 30, 2024, the carrying value of the acquired healthcare services business was approximately $136 million, including $113 million in goodwill and acquired intangible assets, Navient said in its previous announcement.

Following completion of this acquisition, CorroHealth will continue to operate Xtend from its existing offices in Hendersonville, Tennessee, USA.

In addition, more than 925 Xtend employees have now become part of the CorroHealth team, expanding the company's workforce and expertise.

Mike Morris, President of Xtend Healthcare, said, “The entire Xtend team is excited to join a world-class revenue cycle management company like CorroHealth.

“As part of the CorroHealth team, we can now offer our customers a wider range of features and automation tools.”

This latest development further strengthens CorroHealth’s position in the market while making the company a comprehensive provider of end-to-end clinical and financial solutions.

The acquisition will also significantly expand the company's existing RCM offering and introduce new patient engagement capabilities, including a multi-channel patient communications service, a component that was previously missing from the company's service portfolio.

Pat Leonard, CEO of CorroHealth, said: “This is a significant step forward for CorroHealth and our customers. The addition of the talented and knowledgeable Xtend employees to the clinically led CorroHealth team provides our customers with a powerful new level of financial security.

“These new services will eliminate additional burden on our clients and allow them to focus on providing quality healthcare.”

“CorroHealth Completes Acquisition of Navient’s Healthcare RCM Business, Xtend” was originally created and published by Hospital Management, a GlobalData brand.

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