Provider of specialized cost-containment services to the workers’ compensation industry, NextImage Medical has announced its completed acquisition of WorkWell Inc, according to a recent news release. Chrysalis Ventures, Louisville, Ky, backs NextImage Medical.
The release states that the individual company product lines will continue to operate under their respective lines. Liz Griggs, chairman, CEO, NextImage Medical, is set to serve as the CEO of the combined entity.
For 23 years WorkWell, a provider of soft-tissue prevention and treatment, has aimed to provide employer services and solutions designed to improve workforce wellness, availability, and productivity. The company has also targeted the offering of proactive musculoskeletal wellness solutions. The release notes that its business model encompasses three service areas that include onboarding/prework screens (PWS) for new-hires, on-site prevention and therapy, and specialized training for physical therapists, occupational therapists, and other healthcare providers in its proprietary programs.
In the release, Margot Miller, PT, clinical and operational leader, WorkWell, emphasizes the company’s excitement “about the opportunity to now be part of NextImage,” and notes that the company believes the combined product offerings will provide a high-quality, comprehensive solution to the marketplace.
“We will continue to do business as WorkWell Systems due to market recognition. We look forward to the growth opportunities that becoming part of NextImage Medical provides us,” Miller adds.
“WorkWell has been known for very high-quality physical and occupational rehabilitation training and producing significant cost savings through providing faster return to work, improving function, and helping employers avoid similar future injuries from specific jobs,” Griggs says. Griggs also echoes Miller’s sentiment, noting that WorkWell’s acquisition is anticipated to “drive meaningful value for existing customers of both companies.”
[Source(s): NextImage Medical, Chrysalis Ventures, WorkWell Systems]