Navigant announced this week that it has acquired Cymetrix, a privately-held revenue cycle management firm that specializes in providing outsourcing services to hospital and healthcare networks. The newly acquired company will operate as Navigant Healthcare Cymetrix.

The addition of Cymetrix's approximately 600 business process outsourcing employees significantly enhances Navigant Healthcare's existing physician revenue cycle outsourcing capabilities, which are offered through Navigant's Alleviant subsidiary.

“The acquisition of Cymetrix aligns with our strategic growth plans and is transformative for Navigant, creating new opportunities for us to evolve and expand our business platform beyond consulting services to incorporate more data analytics products, technology-enabled solutions, and operations outsourcing,” stated Julie Howard, Navigant chairman and chief executive officer. 

Under the terms of the agreement, Navigant paid approximately $75 million in cash at closing to acquire 100% of Cymetrix stock. It may pay up to an additional $25 million to the selling stockholders based on the acquired company's achievement of certain post-closing performance targets.

Cymetrix Chief Executive Officer Michael Halberda will continue to lead the company's day-to-day operations as part of Navigant Healthcare.