AMICAS Acquires Specialty Medical Billing Firm

AMICAS, Inc., a leader in radiology and medical image and information management solutions, and Technology Partners, Inc., today announced that AMICAS has acquired certain ownership rights to the IMAGINEradiology practice management software platform. Under the terms of the agreement, AMICAS purchased a copy of the source code to the IMAGINEradiology software and a comprehensive array of transition services from Technology Partners. IMAGINEradiology will be re-branded and developed by AMICAS as Vision Series Financials(TM).

The IMAGINEradiology platform is a next generation radiology practice management and billing software system designed to meet the challenges of today’s complex radiology billing environment. The billing system serves over 100 practices ranging from radiology groups to large billing services. IMAGINEradiology makes extensive use of modern Microsoft products, including the Microsoft Windows(R) operating system and Microsoft SQL Server(TM) database.

As the new Vision Series Financials platform, IMAGINEradiology will be combined with AMICAS’ world-class, Windows-based RIS and PACS to create a unique radiology automation solution. As Vision Series Financials, IMAGINEradiology will also be integrated with other AMICAS revenue cycle management modules, including Insight Dashboards(TM), Insight Services(TM), and Vision Series Document Management(TM).

"At the heart of every radiology practice is a world-class medical billing application," said Stephen Kahane, M.D., chairman and CEO of AMICAS. "The new Vision Series Financials platform will expand on the functionality available in traditional systems with enhanced capabilities that are real game-changers for radiology practices and billing services."

Sam Khashman, president and CEO of Technology Partners, said, "It is a big compliment for us that AMICAS has chosen to add IMAGINEradiology as a platform within the Vision Series product suite. AMICAS is the leader in outpatient radiology automation, and we believe that our collaboration will bring tremendous value to the industry." Mr. Khashman continued, "AMICAS will be combining its considerable knowledge of radiology billing with world-class engineering, implementation, and support resources to create an integrated suite of radiology automation products and services that we believe is not offered by any other provider in this market."

AMICAS already provides radiology billing software and services to over 400 billing services, radiology groups, and imaging center networks. As part of the partnership established by the agreement announced today between AMICAS and Technology Partners, Technology Partners will provide a comprehensive suite of transition services to AMICAS. Services will include engineering support, new client implementation assistance, and customer support assistance.

Peter McClennen, president and COO of AMICAS, said, "We see IMAGINEradiology as a complementary solution to Sentinel(TM), our flagship billing product. We will continue to develop, market, and sell both solutions as they suit different needs and segments of the broad radiology billing market. Additionally, we will continue to support our other platforms, as they continue to be successful applications for our clients."

AMICAS intends to build the cross functional team necessary to expand and support the new product. Investments will be made in engineering, sales, implementation, and support teams for the new Vision Series Financials platform. AMICAS will utilize its customer center in Florida and expand existing distribution channels.

AMICAS will launch the new Vision Series Financials platform at the upcoming AMICAS National Client Conference and at the Radiology Business Management Association Radiology Summit from May 6 to 9 in St. Louis, MO.

AMICAS, Vision Series Financials, Insight Dashboards, Vision Series Document Management, and Sentinel are trademarks or registered trademarks of AMICAS, Inc. All other company and trademark names are the property of their respective owners.