The acquisition will allow Cotiviti to integrate RowdMap’s Risk-Rediness Platform, which uses analysis to disclose efficiency of a provider network, to address solutions to improve cost savings and value-based contracts.
“The trend toward value-based care increases the complexity associated with payment and creates a greater need for Cotiviti’s payment accuracy services,” said Doug Williams, CEO of Cotiviti. “With the addition of RowdMap, we will be able to offer adjacent solutions to payment accuracy that together target over $600 billion of the estimated $900+ billion in waste and abuse in healthcare expenditures.”
Cotiviti intends to purchase RowdMap with its liquidity reserves. Additionally, around 800,000 shares of restricted common stock will be issued to certain RowdMap employees. The transaction is expected to close by the end of July.
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