Millennium Healthcare has entered into an exclusive letter of intent (LOI) to purchase the business of HealthPath.
Terms of the deal have not been disclosed.
Millennium Healthcare CEO Noel Mijares said: "We are actively looking for companies that are synergistic with our existing business lines and have experienced management teams.
"This acquisition significantly strengthens our market-share position. HealthPath meets these goals, and we are confident that this acquisition will provide value to our shareholders."
HealthPath provides cloud-based software for Medicare’s Annual Wellness Visit.
The company offers Well Path System that allows to establish substantial and recurring income stream and Well Path Plus solution that facilitates the effective delivery of annual wellness visits while collecting ICD-10/HCC codes for accurate risk adjusted payments.
HealthPath’s solutions are said to allow physician or non-physician practitioner to conduct two to three wellness visits per hour, in addition to identifying preventive services and other clinically indicated tests.
The firm’s customers include primary care physicians, multi-specialty practices, hospitals and healthcare systems and accountable care-organizations.
It also provides services to clinically integrated networks, MA Plans, nursing homes/ALFs, skilled nursing facilities, healthcare clinics, home healthcare companies, IPSs, and senior communities.