SpendMend Announces the Acquisition of Moody Associates, P.A. Healthcare Division

GRAND RAPIDS, Mich., February 9, 2022 (Newswire.com) - SpendMend, the leading provider of tech-enabled solutions to optimize the cost-cycle for the healthcare industry, announced today they have acquired the Healthcare Division of Moody Associates, P.A., a privately held provider of profit recovery and contract compliance services.

The transaction will further position SpendMend as the leading profit recovery firm in the healthcare industry pushing the company's client count to well over 120 major healthcare systems across the nation - including 8 of the Top 10 systems by patient revenue.

Moody Associates, P.A. will remain in business under the same name operating out of their Charleston, South Carolina headquarters providing profit recovery and contract compliance services to a strictly non-healthcare clientele.

"SpendMend's goal is to help improve patient care with the value we deliver to hospitals and healthcare systems through our innovative solutions," said Dan Geelhoed, Founder and CEO of SpendMend. "The inclusion of the Moody & Associates former healthcare clients into our portfolio will provide us an opportunity to extend our value to more hospitals."

Commenting on the transaction, Donald Moody, Founder and CEO of Moody Associates, P.A. offered the following, "We have long admired SpendMend's dedication to hospitals and healthcare systems.  Their suite of solutions for the healthcare industry is second to none.  We believe this transaction provides an ideal outcome for all parties including Moody, SpendMend and more importantly, the clients."

About Moody Associates, P.A.

Moody Associates, P.A. specializes in manufacturing and distribution sectors, where they have developed substantial expertise.  Current clients include several major global corporations that rank number one, in their industry, by revenue.  As the country's only CPA firm specializing in profit recovery and contract compliance auditing, our extensive staff experience in Big 5 auditing provides us a better understanding of internal control structures than that of competitive firms. 

About SpendMend

SpendMend is the leading provider of tech-enabled cost-savings solutions in the healthcare industry. By combining the use of data, proprietary technology, and rigorous analytics with its healthcare focus and expertise, SpendMend partners with healthcare networks to improve and optimize their costs in meaningful and collaborative ways. SpendMend's mission is to help its clients improve their patient care through innovative cost-savings solutions.

Source: SpendMend