Health insurer WellPoint Inc., announced yesterday that it will pay $300 million to acquire American Imaging Management, a company that specializes in controlling medical imaging expenses, Forbes.com reported.
Wellpoint said the acquisition will help them save money by reducing duplicative imaging procedures and cutting down on administrative expenses. The deal is expected to close in the third quarter of 2007.
American Imaging Management, based in Deerfield, Ill., makes software to help physicians choose the most cost-effective site to perform imaging tests on patients. They currently manage benefits for approximately 20 million patients.
Forbes.com said WellPoint hopes to expand American Imaging's technology to help control costs in other areas, including prescription drugs and heart care.