ProxyMed acquires MedUnite - Big Deals - Brief Article

South Florida CEO, Jan, 2003

* Fort Lauderdale-based ProxyMed has acquired MedUnite, a private company that transfers physicians' paper-based healthcare transactions to a Web-based platform, for $10 million in cash and $1 3.4 million in debt. ProxyMed, which automates physicians' financial, administrative and clinical transactions through its ProxyNet information network, says the acquisition of MedUnite makes ProxyMed one of the largest companies of its kind in the industry, with more than $70 million in combined revenues and 200 million healthcare transactions processed annually.

MedUnite will operate as a wholly owned subsidiary of ProxyMed.