Companion Buys SDS

(June 26, 2007)

Columbia, S.C.-based Companion Technologies, has acquired SDS, a document imaging and management vendor previously known as Smart Document Solutions. Acquisition terms were not disclosed.

Columbia, S.C.-based Companion Technologies sells physician practice management and electronic medical records software, and operates a claims clearinghouse. The company previously was a subsidiary of BlueCross BlueShield of South Carolina before two investment firms acquired it in December.

The acquisition will significantly expand Companion Technologies’ footprint in the hospital market. About 100 hospitals in South Carolina use its clearinghouse services.

But Alpharetta, Ga.-based SDS has more than 1,000 hospital clients, primarily using its technology in the medical records department. Companion Technologies believes a market exists for using document imaging and management systems in hospital and large group practice business offices.

Further, Companion Technologies could cross-sell its clearinghouse services to SDS clients. More information is available at sdshealth.com and companiontechnologies.com