Reston, VA – Leidos (NYSE: LDOS) recently announced it has entered into a definitive agreement to acquire IMX Medical Management Services (IMX), a URAC accredited commercial independent review organization and its affiliated businesses, including First Rehabilitation Resources, a URAC accredited commercial case management organization, primarily serving the mid-Atlantic and northeastern United States.
Following the transaction close, it is expected that IMX will operate under QTC Management, Inc. (QTC), a wholly owned Leidos subsidiary providing more than 3,000 independent medical examinations and medical record reviews per day across all 50 states for a number of key federal customers.
IMX, headquartered in Malvern, Pa., and its affiliated businesses provide independent medical evaluations, medical record reviews, and medical and vocational case management for insurance carriers, employers, law firms, third party administrators, and state and local government. After the transaction closes, nearly 200 IMX and affiliate staff members will extend QTC’s coverage area, and apply QTC’s proven examination workflow technology that enables real-time access to case information, tracking and reporting.
“Leidos has a 35-year history of providing technology-driven exam solutions through our wholly-owned company, QTC,” said Jon Scholl, Leidos Health Group president. “The IMX transaction directly supports our mission to make the world safer, healthier and more efficient.” Grant Kim, QTC president added, “We are excited to have reached agreement with this highly regarded organization that shares our commitment to delivering the highest quality medical, disability, and related services.” David Dugery, IMX president, affirmed, “On top of being a great culture fit, this deal brings together organizations with long-term plans centered on customer service.”
The acquisition is expected to close in the third quarter of 2019, subject to customary approval.