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Leidos to Acquire IMX Medical Management Services to Expand Medical Evaluation Coverage
Tuesday 13 August 2019

13 August 2019 - Virginia, US-based science and technology company Leidos (NYSE: LDOS) has agreed to acquire Pennsylvania, US-based IMX Medical Management Services, a URAC accredited commercial independent review organisation, the company said.
The acquisition is expected to close in 3Q19, subject to customary approval. Terms were not disclosed.
Under terms of the transaction, Leidos will acquire affiliated businesses of IMX, including First Rehabilitation Resources, a URAC-accredited commercial case management organisation, primarily serving the mid-Atlantic and northeastern United States.
Following the transaction close, it is expected that IMX will operate under QTC Management, Inc., a wholly owned Leidos subsidiary providing more than 3,000 independent medical examinations and medical record reviews per day across all 50 states for a number of key federal customers.
Leidos is an information technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, homeland security, civil, and health markets. The company's 33,000 employees support vital missions for government and commercial customers.
QTC Management, Inc., acquired by Leidos in 2016, partners with each customer to identify existing and forecasted programme needs and delivers a full complement of disability-focussed medical examination and diagnostic testing services.
IMX and its affiliated businesses provide independent medical evaluations, medical record reviews, and medical and vocational case management for insurance carriers, employers, law firms, third party administrators, and state and local government.
After the transaction closes, nearly 200 IMX and affiliate staff members will extend QTC's coverage area, and apply QTC's proven examination workflow technology that enables real-time access to case information, tracking and reporting.
Details
Date Published: 13/08/2019
Target: IMX Medical Management Services
Country: USA
Sector: Healthcare
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor:
Buyer: Leidos
Comment:
Terms of the deal were not disclosed

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