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REGIONAL ROUNDUP

Healthtronics Joins With Bank to Handle Claims

November 15, 1994

Healthtronics, a private Woodland Hills provider of software and services to hospitals, said it has established a partnership with Inglewood-based Imperial Bank to handle insurance claims for doctors and hospitals.

The company said Imperial Bank, through its small business investment company, has bought a substantial equity interest in Healthtronics, but declined to say the value of the deal.

Healthtronics, which was founded in 1992, writes and manages computer programs for 50 health care providers, most of them in California and Texas. The programs allow hospitals to file insurance claims electronically instead of sending forms by mail.

Through the alliance with Imperial Bank, Healthtronics will also be able to handle payment of insurance claims electronically, Healthtronics President Larry Lai said. Imperial Bank will provide Healthtronics with the equivalent of direct deposit for insurance reimbursements so that hospitals don't have to wait for checks from insurance companies to arrive by mail, he said.

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