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MED ADVANTAGE ACQUIRES
ACQUIRES AMERICAN CREDENTIAL REGISTRY, INC.
11/28/97 10:23 AM ORLANDO, April 7/PRNewswire/ -- Med Advantage today announced it has
reached a definitive agreement with American Credential Registry, Inc. under which Med
Advantage will acquire the credentialing business of American Credential Registry, Inc.
The divestiture completes American Credential Registry, Inc.’s exit from the
credentials verification business. Details of the agreement were not disclosed. Med
Advantage is a nationwide provider of primary source verification services to hospitals
and managed care organizations which need to verify the education, licensure and other
medical credentials of physicians associated with the organization.
"With this divestiture, American Credential Registry, Inc. completes its exit from
the credentials verification business," said Walter Kabis, American Credential
Registry, Inc. President. "We decided to exit the credentials verification line of
business to allow us more freedom to take greater advantage of growing the business of
preparing provider application forms. We are proceeding on that course with new strategies
to bring added value to the marketplace.
"This acquisition, which merges the American Credential Registry Inc. credentialing
business into our Credentials Verification Services, enhance our leadership in the medical
credentials verification field. This expanded market reflects Med Advantage’s
expertise and commitment to the health care market as a means to enhance the quality of
care and to control costs," said John B. Witty, President of Med
Advantage.
Med Advantage is considered one of the largest Credentials Verification Organizations
(CVO) in the country. Med Advantage received its Certification as a CVO from The National
Committee for Quality Assurance (NCQA)* in September, 1995. The company was among the
first to receive certification from NCQA and did so for 9 out of 10 verification services.
The database which Med Advantage has compiled currently holds over 750,000 providers and
has over 4.3 million elements verified according to both NCQA and The Joint Commission on
Accreditation of Healthcare Organizations (JCAHO) standards.
* The National Committee for Quality Assurance, located in Washington, DC, is an
independent, non-profit organization that certifies credentials verification organizations
and accredits managed care organizations.
CONTACT: John C. Barrett of Med Advantage , 407-282-5131
CO: Medical Advantage, Inc., d/b/a Med Advantage ST: FL
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