Advertisement

ORANGE COUNTY BRIEFLY

ProxyMed Will Buy Santa Ana's WPJ

April 28, 1998|Bloomberg News

Florida-based ProxyMed Inc. said Monday it will buy WPJ Inc., a Santa Ana-based processor of electronic medical claims, for $27.5 million in cash and common stock.

The acquisition of WPJ, which does business as Integrated Medical Systems, is expected to close May 15. It would extend Fort Lauderdale-based ProxyMed's online clinical and financial electronic data interchange network, ProxyNet, to WPJ's customer base on the West Coast.

The move will allow ProxyMed to compete nationwide, said Harold Blue, chairman and chief executive.

The company broadened its market presence significantly last year by adding Wal-Mart Stores Inc., Rite Aid Corp.'s drugstores, and Walgreen Co.'s drugstores to its prescription network.

Advertisement
Los Angeles Times Articles
|
|
|