Constellation health acquires VEGA medical professionals

Constellation healthcare Technologies (CHT), a US based Healthcare services company, has announced that it has acquired VEGA medical professionals.

The company has acquired VEGA Medical professionals for a maximum of $24m including three years maximum consideration on earn outs.

VEGA is a revenue cycle management business focused on hospitals and independent practicing physician groups.

A total of 78% of the consideration is to be paid in cash and 22% in shares.

The board believes the acquisition will add a number of new areas of expertise to the company and broaden the offering available from its platform.

Chief Executive Paul Parmar said: "I am delighted to announce the acquisition of VEGA which is our second acquisition in 2016. Like previous acquisitions, this transaction will allow CHT to expand on existing skill sets whilst at the same time adding a new suite of hospital based billing expertise to our platform. The acquisition of VEGA provides further evidence of CHT's ability to identify and acquire quality businesses that have significant operational synergies that are accretive to our shareholders."

The firm’s share price fell 4.47% to 171p at 1532 BST on Friday.