Jacksonville, Fla.-based Fidelity National Financial's FNFV Group signed a definitive agreement to acquire T-System Holdings, a Dallas-based healthcare clinical documentation and coding solutions provider.
The cash transaction is valued at $200 million.
"T-System is a great company with an experienced management team that operates in a very large and fragmented medical documentation and coding market, with a business model that is shifting to a majority of recurring revenue streams," said Fidelity National Financial Chairman William Foley II. "We believe that the documentation business is at an inflection point with a significant near-term organic growth opportunity. We are also confident that we can assist T-System in making multiple acquisitions that can accelerate future growth and further expand the product and services that the company offers to its customers."