Kovo HealthTech Corporation announced on June 8 that it entered into a binding agreement to acquire Kairos Billing Solutions LLC, a Utah-based digital medical billing provider that specializes in mental health billing solutions. Kovo agreed to pay a cash consideration of $150,000 for the acquisition.
Kovo is a growing healthcare technology company that specializes in Billing-as-a-Service offering SaaS-style recurring revenue contracts and software for US healthcare clinics, hospitals and private practices. Kovo helps healthcare providers digitally track and manage complex patient care registration, services, billing and payments in a seamless way, using its proprietary OneRev technology platform.
Under the terms of the agreement, Kovo has, through a wholly-owned subsidiary, purchased all of the assets of Kairos Billing Solutions, including associated trademarks, trade names, brand names goodwill, customer lists, software and customer contracts. Kairos Billing’s Founder, Jamie Rowley, has agreed to stay on as an employee of Kovo for at least one year to ensure ongoing client service excellence.
According to data captured in the LevinPro HC database, this acquisition marks the 123rd eHealth transaction of 2023. It also marks Kovo’s second transaction of the year. In April 2023, Kovo acquired E&A Medical Billing Service and Software, an Arizona-based medical billing specialist firm for $2.7 million.
