MedAvant Acquires Zeneks, Inc. to Enhance Cost Containment Service Offering

MedAvant Healthcare Solutions, a leader in healthcare technology and transaction services, today announced their acquisition of substantially all the assets and operations of Zeneks, Inc., a privately held bill negotiation services company based in Tampa, Florida.

"This acquisition is a strategic move to expand our provider relationships and enhance our bill negotiation services for payers," said John Lettko, CEO of MedAvant. "Zeneks has a solid service offering that complements our existing cost containment solution. In addition, they have a very innovative team that we're excited to have as part of MedAvant."

Zeneks was incorporated in 1998 and was established as a medical cost containment company. They have relationships with numerous providers throughout the country. "We expect to integrate the Zeneks operations into MedAvant's current bill negotiation system by the end of the first quarter of fiscal 2006. MedAvant believes the acquisition will be immediately accretive to their earnings."