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Monday, Jul 22, 2024
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Accumen Inc. Acquires Michigan-Based Chi Solutions Inc.

San Diego-based Accumen Inc. has acquired Chi Solutions Inc., expanding its capabilities in the lab industry.

Financial details of the acquisition were not disclosed.

Ann Arbor-based Chi Solutions is a clinical laboratory consulting and management firm that aims to deliver revenue growth and cost savings by optimizing lab operations for hospitals, health systems, and hospital-owned independent laboratories.

Chi Solutions has generated between $50 million and $70 million each year for its clients, said Jeff Osborne, president and CEO of Accumen, in an email. The company provided lab consulting services to over 100 clients in the U.S., Osborne said.

Although Osborne wouldn’t provide financial details, he did say that the acquisition was about 20 percent the size of Accumen (based on revenue). It was internally funded, and was primarily a cash purchase.

“(The) key for Accumen was not revenue but the opportunity to create a combination of skills, capabilities and experiences that allow us to better serve the lab industry,” Osborne said.

The acquisition makes Accumen, which specializes in lab operations and patient blood management, one of the largest companies in the industry, according to an Accumen news release.

“Accumen’s success as a health care partner championing improvements in speed, accuracy, efficiency and growth, has resonated with health system executives seeking peak performance and strong lab capabilities to support expansion care delivery and services in their communities,” Osborne said in a statement. “The need for laboratories to transform to keep pace is greater than ever — and together we provide health systems a broad range of proven capabilities to achieve that.”

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